×
2 891
Fashion Jobs
ESTEE LAUDER
Clinique - Consultant - Selfridges, London - 15 Hours, 2 Days - Part Time, Permanent
Permanent · Londres
ESTEE LAUDER
Tom Ford Beauty - Product Manager (Fragrance)
Permanent · Londres
ESTEE LAUDER
The Estée Lauder Companies - UK dc Warehouse Operative – Goods in (Tuesday-Friday 06:00 - 14:00 & Saturday 08:30 – 16:30)
Permanent · Fareham
AESOP
Retail Consultant | Full Time | Aesop Northcote Road, London
Permanent · London
AESOP
Retail Consultant | Part Time | Aesop Northcote Road, London
Permanent · London
AESOP
Retail Consultant | Full Time | Aesop Richmond, London
Permanent · Richmond
AESOP
Retail Consultant | Part Time | Aesop Richmond, London
Permanent · Richmond
BOOHOO GROUP
Warehouse Operative - 3on/3off - 14:00-02:00
Permanent · CRICK
COAST
Art Director
Permanent · LONDON
BERSHKA
General Manager - Bershka Blanchardstown
Permanent · DUBLIN
ZARA HOME
Zara Home White City - General Manager (Maternity Cover)
Permanent · LONDON
SELFRIDGES
Finance Systems Analyst
Permanent · LONDON
BOOHOO GROUP
Warehouse Operative - 14:00-02:00
Permanent · CRICK
URBN
Urban Outfitters Performance Marketing Manager - London, UK
Permanent · LONDON
HARRODS
Senior Buyer's Clerk - Accessories
Permanent · LONDON
HEAD OFFICE
Head Chef Food Production – Victoria Head Office
Permanent · LONDON
ESTEE LAUDER
Sales & Education Executive, Estee Lauder - Travel Retail Emea (Based UK)
Permanent · Londres
ESTEE LAUDER
Clinique - Consultant - Boots Trinity, Leeds - 26 Hours/Week - Part Time, Permanent
Permanent · Leeds
ESTEE LAUDER
Clinique - Consultant - Boots Metro, Gateshead - 21 Hours/Week - Part Time, Permanent
Permanent · Gateshead
THE NORTH FACE
Account Coordinator - German Speaking - Vans
Permanent · NOTTINGHAM
VANS
Account Coordinator - Dutch Speaking - The North Face
Permanent · NOTTINGHAM
TIMBERLAND
Account Coordinator - French Speaking - Dickies
Permanent · NOTTINGHAM
Ads
Published
Mar 10, 2022
Reading time
2 minutes
Share
Download
Download the article
Print
Click here to print
Text size
aA+ aA-

John Lewis cuts losses, department stores getting back on track

Published
Mar 10, 2022

John Lewis remained loss-making in 2021 on a pre-tax basis, but its figures included a restored bonus of 3% paid to its Partners (the staff who own the business). And it said its profit before bonus, tax and exceptional items — or PBTBE — "rebounded" to £181 million, up £50 million or 38%, on last year. It was also £111 million (159%) better than two years ago. 


Photo: Sandra Halliday



The pre-tax loss was £26 million, a whole £491 million better than the prior year. But it was also £172 million (118%) lower than the profit two years ago.

The company also committed to paying staff the voluntary Real Living Wage nationwide this year and announced a 2% pay rise. But in addition, its chair Sharon White talked of price hikes to come amid “significant” cost pressures.

Whether that will impact sales is unclear, but for now, the company had good news on 2021 sales. It said total Partnership sales of £12.5 billion were up 1% in 2021. 

The company operates the John Lewis department stores and webstores, as well as Waitrose supermarkets, with the latter often being the standard bearer for higher sales in recent periods. 

But this time, it was the former that outperformed. The John Lewis operation achieved the highest sales in its history at £4.9 billion. This was up as much as 8% like-for-like on the previous year or 4% on a reported basis. Against two years ago, John Lewis’s sales were up 10% like-for-like and 2% reported.

The company added that it has “made a good start to our Partnership Plan but [we] are only one year through our five-year transformation”. Looking ahead, it sees “continued uncertainty from global events, affecting the economic environment, our customers, Partners and society. As inflation and energy prices rise, our customers face higher living costs. While this creates uncertainties as we look ahead, we remain focused on investing significantly in our Partnership Plan to transform and grow our business”.

For the current year it will invest £119 million in its John Lewis shops, digital services and distribution capabilities. And it’s “committing £500 million to give John Lewis customers everyday quality and value, and an improved MyJL loyalty proposition is coming later this year”. 

Waitrose will also see multimillion pound store, digital and distribution investments.

Copyright © 2022 FashionNetwork.com All rights reserved.