Retail Trade

John Lewis to Invest £90mn for Store Expansion

John Lewis to Invest £90mn for Store Expansion

The online sales of John Lewis has seen a very good growth, however, the company will still continue to operate offline and not close its stores.

The retailer unveiled plans to invest £90 million in stores this year, which would fund 23 shop refurbishments.

Online sales have soared across the partnership. At John Lewis’ sister company Waitrose, ecommerce sales grew 14% year on year and now stand at 17% of total sales.

The department store achieved record annual sales in a year where it had 16 fewer stores and lockdown forced all shops to close for 10 weeks.

John Lewis Partnership has revealed that it will not close any more stores despite online accounting for two thirds of its sales over the past year.

The partnership achieved record sales of £4.93 billion, with like-for-likes up 8% against last year, even with 10 weeks of shop closures during Covid lockdowns.

The fashion sales soared when its stores reopened after lockdown, which highlighted how customers prefer shopping in-store for certain categories.

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