JOHN LEWIS MANAGEMENT MERGES WITH WAITROSE MANAGEMENT TO STREAMLINE COSTS (from today’s Times) and in doing so NOW accepts that John Lewis Department stores (and all the others) are heading towards oblivion because of the internet.
The John Lewis Partnership (JLP) has launched a radical overhaul that means that the department store chain and Waitrose food business will no longer be run as two separate entities, resulting in the loss of 75 senior head office jobs and cost savings of £100 million.
The employee-owned retail group said that there would no longer be divisional boards or separate managing directors for John Lewis and Waitrose. Separately, it announced the departure of food boss Rob Collins, who has been with JLP for 26 years.
The bold changes come a month after JLP reported the first half-year loss of £25.9 million since 1972 on the back of lower sales of homewares and electricals while struggling with higher store costs.