Set your watch, then, for about half a decade’s time. Three years into an expensive five-year turnaround programme, the John Lewis Partnership says it will need an extra two years to arrive at the sunny uplands of a £400m annual profit.
The figure is its definition of a “sustainable” return, meaning one that allows it to invest at a decent pace and pay the staff (or partners) a reasonable annual bonus.
Read the full article on The Guardian website
NAM Implications:
- The company comprises two radically different business models…
- …requiring different ways of retailing.
- In other words, making the two businesses stand alone might help respective management focus on respective business priorities…
- …and be more accountable.
