Is John Lewis at risk of becoming a ‘middle-class Argos’?
John Lewis Partnership’s first full-year loss in its history revealed the scale of disruption affecting the retailer, particularly its eponymous department store division.
The business already faced a turnaround challenge when Dame Sharon White took the helm as chair last year, but the Covid-19 pandemic has accelerated the pace of change John Lewis department stores must navigate.
Forced like other retailers deemed ‘non-essential’ to shut up shop during successive lockdowns, John Lewis was nevertheless able to reap the benefits of an online operation it had invested in and built up over years.
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