John Lewis Partnership plc Annual Report and Accounts 2014
37
John Lewis gross sales grew strongly throughout the year, increasing by 7.5% in total and passing the £4bn mark for the first time. Total like-for-like sales grew by 6.4%. Operating profit before restructuring costs was up 11.0% to £240.5m. Restructuring costs were £14.4m for streamlining our department store management structures and the future closure of our Park Royal distribution centre, as part of our programme to upgrade our distribution infrastructure. Both of these will improve long-term efficiency. Operating profit including these costs was up 4.3% to £226.1m.
“ This year, Electrical and Home Technology has led the way with our Fashion and Home categories accelerating.”
Sales growth was shared across the categories:
– Home (+2.3%): We made significant progress in our ambition to be the UK’s largest home retailer through new initiatives such as Any Shape, Any Fabric and the maturation of our HOUSE range.
– Fashion (+5.0%): We expanded our Kin fashion lifestyle brand with new accessories and babywear collections, as well as building on the success of our fashion labels, Somerset by Alice Temperley and John Lewis & Co.
– Electricals and Home Technology (EHT) (+15.5%): We were Samsung’s retailer of choice to debut their new OLED televisions, and were exclusive stockists of Nest when the product launched in the UK.
SHOPS AS SOCIAL SPACES
Although the growth of online has been driven by customers seeking ever-more convenient and quick ways to shop, our customers still want the social experience of visiting our shops. We’ve opened collaborations with new food brands in two of our shops, Scandinavian brand Joe & the Juice in Solihull, and Hotel Chocolat’s Cocoa Bar Café in Edinburgh. They join our beauty spas and Kuoni travel concessions in our strategy to create experiences which draw people into our shops and give them an experience which can’t be recreated online.
+19.2%
STRONG GROWTH OF
JOHNLEWIS.COM
Sales on
johnlewis.com grew to £1.1bn and this is part of our omni-channel approach: shoppers should experience a seamless and rich experience, no matter which channel they use to experience John Lewis.
HOW WE SHOP, LIVE AND LOOK
First publication of a detailed insight into the UK’s changing tastes and habits with a special focus on our shoppers.
THE JOHN LEWIS PARTNERSHIP
OUR PERFORMANCE
GOVERNANCE
FINANCIAL STATEMENTS
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