The department store operator and Waitrose owner says profits were hit in 'a very tough year'.
John Lewis said the strategy was part of its long-term plan for 40% of profits to come from outside of retail by 2030.But Dame Sharon said the inflation of the last year had "hit us like a hurricane" and that customers had "felt the pain".
The cost of living crisis has hit John Lewis hard, with worse than expected results. Customer numbers may be up but they are buying less, especially at Waitrose, which revealed a drop in volumes of 10% for the year. She has appointed the Partnership's first ever chief executive to supercharge the transformation and get profits back on track. That's not an easy job right now in the current economic environment.The decline in Waitrose sales was significant Ms Shuttleworth said: "Volumes are the life-blood of supermarket businesses - the more you sell, the better the prices you can offer to shoppers.
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