I wonder if the Chairman will get their bonus, on top of their £990,000 salary, for presiding over this collapse?
Its such a poorly run business. The ‘partnership’ takes years to vote on important business decisions and grows stagnant in managerial and board positions. There aren’t new ideas. They hire directors and a Chairperson with zero experience in retail. They outsource their warehouses to 3rd party distribution who absolutely rinse them of money. (It was cheaper to run themselves, marks and spencer realised this and took their distribution back)
They had a fantastic opportunity with waitrose to open more stores up north nearly a decade ago but non imaginative boards members panicked and pulled out of the ideas. They are stuck in an old world thought that they have to cater to rich people… when really they should have been focussing on expansion and competing with the like of asda and tesco.
They should expand into retail parks now, immediately or it will be their downfall. John Lewis and waitrose are not ‘special’ their closed off mentality for only having to sell to well off people is absolute insanity.
bet the executives won’t miss out on their bonus though
3 comments
I wonder if the Chairman will get their bonus, on top of their £990,000 salary, for presiding over this collapse?
Its such a poorly run business. The ‘partnership’ takes years to vote on important business decisions and grows stagnant in managerial and board positions. There aren’t new ideas. They hire directors and a Chairperson with zero experience in retail. They outsource their warehouses to 3rd party distribution who absolutely rinse them of money. (It was cheaper to run themselves, marks and spencer realised this and took their distribution back)
They had a fantastic opportunity with waitrose to open more stores up north nearly a decade ago but non imaginative boards members panicked and pulled out of the ideas. They are stuck in an old world thought that they have to cater to rich people… when really they should have been focussing on expansion and competing with the like of asda and tesco.
They should expand into retail parks now, immediately or it will be their downfall. John Lewis and waitrose are not ‘special’ their closed off mentality for only having to sell to well off people is absolute insanity.
bet the executives won’t miss out on their bonus though