John Lewis warns of store closures and job losses

The retailer’s new boss, Dame Sharon White, who took over as chairman earlier this week is reported to have said that the business faced “difficult decisions about stores and about jobs”.

In comments which highlight how the retail and business landscape is changing, the Daily Mail report she stated: “We should be owning the ethical and environmental agenda. I think in 2020 the partnership values are more important than ever. More than ten years since the financial crisis and as a country we are still asking: is business doing its role to create a good society, good jobs and decent pay?”

The business has faced a tough few years with profits falling dramatically from £541m in 2017 to £162m last year, with expectations for the year ending January 2020 to continue the downward trajectory.

John Lewis operates 50 stores nationwide including Sheffield and York. It is also the anchor tenant of the Victoria Gate development in Leeds.