Major changes are planned at John Lewis – here’s everything you need to know

John Lewis is set to drop its famous price pledge to be ‘never knowingly undersold’ as part of a turnaround plan which also involves the retailer selling more food, offering customers the chance to rent products rather than buy them and potentially building homes on top of its stores.
Watch more of our videos on Shots! 
and live on Freeview channel 276
Visit Shots! now

Sharon White, the chairman of the John Lewis Partnership which also runs Waitrose, told The Sunday Times that the department store chain had ‘lost its mojo’, adding: “I want the opportunity to say, ‘Look, we lost our way’ and tell a story of a fundamentally different business.”

Sheffield’s John Lewis store reopened on July 30 following the relaxation of lockdown restrictions. Councillors have approved a proposed deal to keep the shop in the city as part of the Heart of the City II redevelopment scheme – this would allow the authority to buy out John Lewis’ long-term ‘nominal’ lease on its building in Barker’s Pool, enter into a new 20-year agreement for the site with a rent based on turnover, and give the retailer money towards the cost of revamping the shop.

Hide Ad
Hide Ad

The strategy, a report said, would ‘safeguard a significant number of jobs’ at the former Cole Brothers store.

John Lewis in Barker's Pool, Sheffield.John Lewis in Barker's Pool, Sheffield.
John Lewis in Barker's Pool, Sheffield.

White’s plan comes after she announced the permanent closure of eight John Lewis branches, including a £35 million shop above Birmingham New Street station. She previously said the employee-owned partnership had already entered the Covid-19 crisis with 'weakening profits'.

The ‘never knowingly undersold’ slogan was introduced in 1925 and promises to refund customers the difference if they find the same item on sale for a lower price within 28 days.

However, it does not match prices with online-only retailers, and White said she wants the company to take a ‘digital first’ approach.

Read More
New deal revealed to keep John Lewis in Sheffield, refurbish store and save 'sig...
Hide Ad
Hide Ad

“The proposition is important because it signifies being fair to society,” she said of the price-matching policy. “We’re reviewing it to improve it.”

A new slogan is expected to be in place by October, it has been reported.

White revealed that she is in discussions with ‘developers and investors about partnering to build flats, many of them affordable, on top of existing shops, starting in west London’, and that John Lewis will offer furniture rental at six per cent of the purchase price per month.

“We need to appeal more to modern consumers who are used to subscribing to what they need, not owning it,” she said.

Hide Ad
Hide Ad

In a move inspired by Selfridges, White said she will ‘put more Waitrose stores into John Lewis’ and that the retailer would offer new financial services. “If we know couples have young children, we can offer them a junior ISA. If a couple has retired, we can offer good-value equity release on their home.”

She added that anyone who brings back John Lewis clothing to selected John Lewis or Waitrose stores to recycle or donate to charity will get £3 per item, up to a maximum of £9, to spend in those stores or online.

Editor's message: Thank you for reading this story. The dramatic events of 2020 are having a major impact on our advertisers and thus our revenues. The Star is more reliant than ever on you taking out a digital subscription to support our journalism. You can subscribe here – www.thestar.co.uk/subscriptions – for unlimited access to Sheffield news and information online. Every subscription helps us continue providing trusted, local journalism and campaign on your behalf for our city.