John Lewis Partnership have said that they will continue to cut costs and has outlined new growth strategy which will revive profits.
The retail giant wants to save £300m each year by 2022as they will streamline their operations and offices, whilst last year John Lewis aimed to secure £100m.
John Lewis Partnership chairwoman Sharon White said, “We’ve seen five years of change in the past five months, and Waitrose and John Lewis have responded with great agility.
“Our plan means the John Lewis Partnership will thrive for the next century, as it has the last.
“We’re adapting successfully to how customers want to shop today, while showing the partnership is improving lives and building a more sustainable future.
“We’ll share our success with our customers, partners – who own the business – and our communities.”