John Lewis will return to revenue this yr, says chairman Sharon White

Confidence: John Lewis chairman Dame Sharon White

Retailer John Lewis will return to revenue this yr, its chairman Dame Sharon White has declared.

In a message to employees this week, White mentioned the employee-owned partnership will ‘more than break-even’.

White added that the enterprise was embarking on ‘quite big changes and quite bold changes,’ in line with the Telegraph. It comes days after stories suggesting that the partnership, which incorporates the John Lewis division retailer chain and grocery store Waitrose, is preparng to chop jobs.

John Lewis Partnership (JLP) has struggled for a number of years, posting a £234million loss final yr. It has been hit exhausting by the pandemic and excessive inflation.

White – who’s stepping down in February 2025 on the finish of her five-year tenure – beforehand mentioned that it was aiming to return to sustainable revenue by the 2027/28 monetary yr. 

Her feedback come after it was reported final week that JLP is planning to slash as many as 11,000 jobs. It is reducing its 76,000 sturdy workforce by no less than 10 per cent.

White mentioned: ‘There’s been an terrible lot of change over the previous yr. 

‘But these efforts are beginning to present themselves in our industrial efficiency, we’re changing extra of our gross sales into return to companions, and we are going to greater than breakeven this yr, which is a superb begin as we construct again to sustainable revenue.’

A seek for her substitute is beneath method. A spokeswoman for the partnership declined to remark.