John Lewis Partnership-owned United Kingdom retailers Waitrose and John Lewis partnership have revealed plans to achieve £400m profit in five years. It also plans to extend its partnership with Deliveroo, which delivers shopping in 30 minutes, to more areas.
Its online activities grew during the pandemic, with its Waitrose arm rapidly expanding its delivery operations as its partnership with Ocado came to an end. "We'll share our success with our customers, Partners - who own the business - and our communities".
The high street mainstay aims to make 60-70% of sales online in the next five years, compared to around 40% before the coronavirus pandemic hit.
John Lewis will work to ensure its products will last longer and all product categories will have a "buy back" or "take back" solution by 2025; with all key raw materials in own-brand products sourced from sustainable or recycled sources by the same date.
The partnership, which reported a first-half loss of £635m last month, is also seeking efficiency savings of £300m a year by 2022.
It said: "We're a Partnership for positive change, improving lives and building a more sustainable future".
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The company also said it is pushing forward with plans to expand into housing, highlighting that it has identified 20 potential sites which could be used for private housing.
John Lewis Partnership - parent to Waitrose and John Lewis - has outlined plans to improve the sustainability of its supply chain as well as a £1 billion investment in improving e-commerce capacity.
Waitrose said it would spend £1 billion over five years to "accelerate our online business and transform our shops".
Outdoor Living. The company is joining up a number of product lines, including horticulture in Waitrose, garden furniture in John Lewis and the plant nursery, garden design and landscaping services at Longstock Park on the Waitrose Farm.
We've seen five years of change in the past five months and Waitrose and John Lewis have responded with great agility.