• Latest
  • Trending

John Lewis considering fresh store closures in response to Covid | John Lewis

Gates Cambridge Scholarship celebrates 20th anniversary

Gates Cambridge Scholarship celebrates 20th anniversary

Israel-Gaza conflict rages as US envoy visits

Israel-Gaza conflict rages as US envoy visits

Police and Crime Commissioner to end funding for heroin addiction treatment scheme

Police and Crime Commissioner to end funding for heroin addiction treatment scheme

News Press Live
  • Home
  • News
    • All
    • Crime
    • Economy
    • News of England
    • News of Northern Ireland
    • News of Scotland
    • News of Wales
    Gates Cambridge Scholarship celebrates 20th anniversary

    Gates Cambridge Scholarship celebrates 20th anniversary

    Israel-Gaza conflict rages as US envoy visits

    Israel-Gaza conflict rages as US envoy visits

    Police and Crime Commissioner to end funding for heroin addiction treatment scheme

    Police and Crime Commissioner to end funding for heroin addiction treatment scheme

    Nicola Sturgeon’s own economic adviser warns Indyref2 puts recovery at risk

    Nicola Sturgeon’s own economic adviser warns Indyref2 puts recovery at risk

    Horse Racing Getting back on track

    Rochdale hopes machine centre will manufacture revival in fortunes

    The sad state of Cardiff city centre after a year of lockdown as shops lose fight to hold on

    The sad state of Cardiff city centre after a year of lockdown as shops lose fight to hold on

    Convoy drives through London shouting  the Jews, rape their daughters’

    Convoy drives through London shouting the Jews, rape their daughters’

    Conflict intensifies in Gaza as Israeli strikes destroy Gaza tower housing

    Trending Tags

      • Crime
      • Economy
      • News of England
      • News of Northern Ireland
      • News of Scotland
    • Royal Family
    • Tv & Showbiz
    • World News
    • JOBS
    • Sport
      • Football
      • Watch Live Score Football (Soccer) Videos
    • Login
    • Register
    • Latest Headlines
    • Advertise With Us
    • Find A Job
    Sunday, January 29, 2023
    Watch Live Sport
    • Home
    • News
      • All
      • Crime
      • Economy
      • News of England
      • News of Northern Ireland
      • News of Scotland
      • News of Wales
      Gates Cambridge Scholarship celebrates 20th anniversary

      Gates Cambridge Scholarship celebrates 20th anniversary

      Israel-Gaza conflict rages as US envoy visits

      Israel-Gaza conflict rages as US envoy visits

      Police and Crime Commissioner to end funding for heroin addiction treatment scheme

      Police and Crime Commissioner to end funding for heroin addiction treatment scheme

      Nicola Sturgeon’s own economic adviser warns Indyref2 puts recovery at risk

      Nicola Sturgeon’s own economic adviser warns Indyref2 puts recovery at risk

      Horse Racing Getting back on track

      Rochdale hopes machine centre will manufacture revival in fortunes

      The sad state of Cardiff city centre after a year of lockdown as shops lose fight to hold on

      The sad state of Cardiff city centre after a year of lockdown as shops lose fight to hold on

      Convoy drives through London shouting  the Jews, rape their daughters’

      Convoy drives through London shouting the Jews, rape their daughters’

      Conflict intensifies in Gaza as Israeli strikes destroy Gaza tower housing

      Trending Tags

        • Crime
        • Economy
        • News of England
        • News of Northern Ireland
        • News of Scotland
      • Royal Family
      • Tv & Showbiz
      • World News
      • JOBS
      • Sport
        • Football
        • Watch Live Score Football (Soccer) Videos
      No Result
      View All Result
      News Press Live
      No Result
      View All Result

      John Lewis considering fresh store closures in response to Covid | John Lewis

      15.4k
      VIEWS
      Share on FacebookShare on Twitter

      John Lewis is understood to be considering a fresh round of store closures, underscoring the toll that the pandemic is taking on Britain’s deserted high streets.

      The 156-year-old retailer is understood to be reconsidering the scale of its national network of branches, less than eight months after it announced the closure of eight stores to cope with the impact of coronavirus.

      Up to eight more of its 42 remaining outlets could now be closed down, the Sunday Times reported, as the John Lewis Partnership, which also owns Waitrose, considers cutting space and costs by moving into smaller sites.

      John Lewis declined to comment, but any closures would be a new blow to Britain’s beleaguered high streets, after the recent demise of Debenhams and Philip Green’s Arcadia chain, which have been bought by online specialists Boohoo and Asos and will disappear from shopping streets.

      The consent of the company’s landlords will be key in any plan by John Lewis to shut shops. But the downsizing plans could be revealed alongside the company’s annual results, due on 11 March, when the extent of the damage wreaked by the pandemic will become clearer.

      While online retailers such as Amazon and Ocado have thrived amid successive lockdowns, owning a national network of branches has hit retailers like John Lewis hard.

      The impact of Covid-19 came at the worst possible time for the company, which was already facing mounting problems from online rivals. It had reported its first ever half-year loss in September 2019.

      In September last year, after the first lockdown, the company said sales were holding up well, as online sales had surged.

      But the impact of that success has hit the stores hard. Before the pandemic the store group calculated that £6 out of every £10 in sales was linked to browsing in stores. But last autumn the group said that Covid had cut the sales linked to stores to just £3 out of £10.

      As a result the group slashed the notional value of its bricks-and-mortar shops by £470m – which pushed the company to a huge £635m half-year loss.

      The slump into the red meant that John Lewis said it would cancel the annual bonus it awards to staff this year for the first time since 1953.

      With the company at a crossroads, Dame Sharon White, the chairman, wielded the axe over eight stores.

      The shop closures came at a cost of 1,300 jobs, with shops in Croydon, Watford, Newbury, Swindon and Tamworth shutting their doors, as well as small hubs at Heathrow airport and London St Pancras station.

      A new store in Birmingham, where the department store’s former managing director Andy Street is mayor of the West Midlands, was also shut down.

      White is hoping to revive the group’s fortunes with a move into property, converting nearly half of the company’s flagship department store on London’s Oxford Street into office space. There are also plans to build homes for rent alongside some of its supermarkets.

      According to a report released last month, England’s high streets could lose up to 400,000 retail jobs as a result of more people working from home and shopping online after the coronavirus pandemic, with affluent towns in the south among the most vulnerable.

      The UK Treasury is exploring options for an online sales tax in response to an explosion in internet shopping, as Covid-19 accelerates the closure of high street shops across the country.

      — to www.theguardian.com

      Share308Tweet193SendSendShare54Pin69

      RelatedPosts

      Gates Cambridge Scholarship celebrates 20th anniversary
      News

      Gates Cambridge Scholarship celebrates 20th anniversary

      Israel-Gaza conflict rages as US envoy visits
      News

      Israel-Gaza conflict rages as US envoy visits

      Police and Crime Commissioner to end funding for heroin addiction treatment scheme
      Crime

      Police and Crime Commissioner to end funding for heroin addiction treatment scheme

      Nicola Sturgeon’s own economic adviser warns Indyref2 puts recovery at risk
      Economy

      Nicola Sturgeon’s own economic adviser warns Indyref2 puts recovery at risk

      London

      Horse Racing Getting back on track

      News

      Rochdale hopes machine centre will manufacture revival in fortunes

      Recommended Stories

      9 key points raised by Health Minister and frontline health staff at Wednesday’s coronavirus press conference

      9 key points raised by Health Minister and frontline health staff at Wednesday’s coronavirus press conference

      When will schools reopen? Latest news on schools in England opening after Covid lockdown extended into March

      Where is Jack Ma, China’s e-commerce pioneer?

      Where is Jack Ma, China’s e-commerce pioneer?

      Popular Stories

      • Joe Biden opposes guarded border between Ireland and Northern Ireland | US News

        President Biden Promises to Slash Greenhouse Gas Emissions by 50 Percent by 2030

        2636 shares
        Share 1054 Tweet 659
      • Prince Philip is dead

        2632 shares
        Share 1053 Tweet 658
      • Two US Capitol police officers injured after suspect rams car into barrier and stabbed. Suspect dead

        2372 shares
        Share 949 Tweet 593
      • Prince Harry ‘back in the UK’ ahead of Duke of Edinburgh’s funeral on Saturday

        2143 shares
        Share 857 Tweet 536
      • Juventus chairman Andrea Agnelli says European Super League can no longer go ahead

        2115 shares
        Share 846 Tweet 529
      News Press Live

      © 2021 Copyright - All rights reserved.

      Navigate Site

      • About Us
      • Terms & Conditions
      • Private Policy
      • Advertise With Us
      • Contact Us

      Follow Us

      No Result
      View All Result
      • Home
      • News
        • Crime
        • Economy
        • News of England
        • News of Northern Ireland
        • News of Scotland
      • Royal Family
      • Tv & Showbiz
      • World News
      • JOBS
      • Sport
        • Football
        • Watch Live Score Football (Soccer) Videos

      © 2021 Copyright - All rights reserved.

      Welcome Back!

      Login to your account below

      Forgotten Password? Sign Up

      Create New Account!

      Fill the forms bellow to register

      All fields are required. Log In

      Retrieve your password

      Please enter your username or email address to reset your password.

      Log In
      Are you sure want to unlock this post?
      Unlock left : 0
      Are you sure want to cancel subscription?