- John Lewis appoints former Hovis boss as its first CEO to deal with rising costs and losses.
- Employee-owned partnership struggling to remain profitable due to high costs and falling sales.
- Rival Marks and Spencer catching up in online grocery shopping, while Next is a fierce competitor in clothing.
- John Lewis two years into a five-year plan to invest in its stores and online, cut costs and diversify into other business areas.
- Waitrose has lost market share to M&S in recent years, partly since online grocer Ocado swapped to selling M&S products in 2020.
Financial Times — Companies — Retail Revamp — Uk Retail Results — Uk Retail Industry — John Lewis Partnership Plc
John Lewis appoints first chief executive in bid to stop financial slide
John Lewis appoints former Hovis boss as its first CEO in bid to stop financial slide amidst rising costs and falling sales. Waitrose losing market share to rivals.