Page 17
(...Continued from page 16)
Our shop in Cardiff is building a firm foundation in this new location, and sales at our At Home trial format in Poole have exceeded expectations.
Our shop in the Olympic Village in Stratford is progressing well and will open in 2011. This location will be enhanced by our role as the Official Department Store Providers to the London 2012 Olympic Games and Paralympic Games.
John Lewis Direct grew strongly, with sales up 18.2% (£60.6m) to £393.5m. Our multi-channel strategy continued to be a major advantage, helped by an increase in the number of lines available and a range of new services including ‘Click and Collect’ and Express delivery. We significantly increased the assortment available in our Fashion category and have improved the design of the website supporting strong growth in online sales. Operating profit was up by 15.0% to £165.9m, excluding property profits, and operating profit margin (excluding property profits) on gross sales improved by 61 basis points.
Operating profit per square foot increased by £3 (6.9%) to £43 and operating profit per FTE improved by 13.9% to £7,800.
(Photo captioned: Our shop in the Olympic Village in Stratford is progressing well towards its opening in 2011)
(Graph of John Lewis Operating profit (£m)(1))
(Graph of John Lewis Operating profit per square foot (selling space) (£)(1))
(Graph of John Lewis Operating profit per FTE (£’000)(1))
(1) Operating profit is after charging relevant corporate costs based on the business segments’ usage of corporate facilities and services. The basis of allocation has been revised and operating profit for 2008 has been amended accordingly. Earlier years have not been amended. Operating profit for 2009 and earlier years has been restated in respect of the financing element of long service leave costs, as explained in note 1 of the accounts.
Page 1 |
Page 2 |
Page 3 |
Page 4 |
Page 5 |
Page 6 |
Page 7 |
Page 8 |
Page 9 |
Page 10 |
Page 11 |
Page 12 |
Page 13 |
Page 14 |
Page 15 |
Page 16 |
Page 17 |
Page 18 |
Page 19 |
Page 20 |
Page 21 |
Page 22 |
Page 23 |
Page 24 |
Page 25 |
Page 26 |
Page 27 |
Page 28 |
Page 29 |
Page 30 |
Page 31 |
Page 32 |
Page 33 |
Page 34 |
Page 35 |
Page 36 |
Page 37 |
Page 38 |
Page 39 |
Page 40 |
Page 41 |
Page 42 |
Page 43 |
Page 44 |
Page 45 |
Page 46 |
Page 47 |
Page 48 |
Page 49 |
Page 50 |
Page 51 |
Page 52 |
Page 53 |
Page 54 |
Page 55 |
Page 56 |
Page 57 |
Page 58 |
Page 59 |
Page 60 |
Page 61 |
Page 62 |
Page 63 |
Page 64 |
Page 65 |
Page 66 |
Page 67 |
Page 68 |
Page 69 |
Page 70 |
Page 71 |
Page 72 |
Page 73 |
Page 74 |
Page 75 |
Page 76 |
Page 77 |
Page 78 |
Page 79 |
Page 80 |
Page 81 |
Page 82 |
Page 83 |
Page 84