John Lewis is not in a crisis – it has failed to adapt Nils Pratley
over 4 years in The guardian
The department store chain needs fresh thinking – its incoming boss may just provide it
In John Lewis’s Christmas advert, a fire-breathing CGI dragon caused havoc. Peak-season trading at the employee-owned business wasn’t quite that bad because Waitrose is destined to record same-again profits for the full year of £200m-ish. But profits at the department stores are unrecognisable.
The phrase “substantially lower” than last year’s £115m probably implies a profit figure as thin as £50m. Two years ago, the department stores made £258m. In those circumstances, the exit of Paula Nickolds, boss of the department stores, was inevitable. Her operation failed to pull its weight. Waitrose toilers, who may be deprived of a bonus because of shortfalls on the other side of the partnership, might be less diplomatic. Continue reading...
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