Re my original link
Daniel tweeted: "Please people, pray for the people of Surrey. Is Waitrose still open? #earthquake #surrey""
Michael Moran replied: "We're ok, we're all pulling together and have pooled our Perrier and cuscus although creme fresh is running low. Plenty of 4x4's on hand (obviously not as many as W4 though) 😉"
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I will admit to a vested interest here, as SWMBO is employed by JLP, but behind the upmarket image is one of the most egalitarian and democratic business models in the UK today. The downside is, this does come at a cost, because looking after your employees, and providing them with decent pensions isn't cheap, the main reasons companies increasingly don't bother any more.
That said, the only people affected by a downturn in JLP's fortunes are its employees, as they are also its only shareholders. By the same token, when things are going well, they are also the only beneficiaries.
There doesn't seem to be any panic around this. It's simply a combination of tough trading conditions (due to a combination of Brexit uncertainty, and prices being slashed by other retailers who are genuinely going down the tubes), and significant infrastructure investment.
4 of the 5 stores closing are also convenience stores rather than supermarkets.
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I agree DP. John Lewis Parnership is one of the most efficient and decent companies in the country. My wife worked there for over twenty years. Whilst retail has never been the highest paying industry they were always fair to thier employees and their benefits such as pensions are the best in the industry. We still get a staff discount card although she has now been retired for eight years.
In any retail chain stores are always opening and closing. The latest announcements are just part of that constant review.
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Waitrose. The latest concerns. - VxFan
