Housing plan

John Lewis widens services and targets £200m profit

John Lewis

John Lewis: responding to change

John Lewis and Waitrose are planning to strengthen their partnership by expanding into recycling, savings, insurance and private rented and social housing.

The company’s five-year plan will also involve more investment in virtual services and delivery capacity, as well as acquisitions to expand the brand in areas such as horticulture.

Backed by a renewed focus on service and cost savings, the Partnership aims to see profits reach £200m in the next two years and £400m by 2025.

The UK’s largest employee-owned business says the business model allows it to invest with a longer term perspective than a conventional business, even in challenging times and amidst a very uncertain economic outlook.

“With this in mind, our five-year plan is self-funding and takes into account uncertain trading,” it said.

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“The Partnership Plan sees our business continuing to adapt rapidly to changing shopping habits, getting closer to customers online and in-store. We’ll also expand in new areas where we believe our values can be a force for good.”

It will be bringing partners and products into customers’ homes through a tap on an app. This means investing in more virtual services like personal styling , home design and the John Lewis Virtual Christmas shop .

Delivery capacity will be expanded beyond 250,000 orders per week, up from 55,000 before the pandemic and it plans more partnerships like the trial with Deliveroo.

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