‘Strategic change and grasping nettles’: where now for John Lewis as boss exits?

Peter Ruis appeared ‘to be doing a good job in difficult circumstances’ at department store chain, says analyst “Going up?” After a tough week for department stores it feels as if that sales aspiration is as dated as the singsong phrase in the opening credits of Are You Being Served? Simpsons of Piccadilly, which inspired the fictional Grace Brothers department store in which the 1970s TV sitcom was set, is long gone, and several of its modern equivalents are now fighting oblivion. The boss of John Lewis, Peter Ruis, clearly decided it was time to exit the elevator this week, announcing his abrupt departure from the UK’s biggest department store chain in a surprise statement. Days later, Harvey Nichols, the luxury Knightsbridge store that was once a byword for 1990s chic, was bought out of administration for a knock-down price by the owner of Sports Direct, Mike Ashley’s Frasers Group. It was only nine months ago that Ruis was talking about possible expansion of the 36-store chain and a burst of investment was seen to have revived sales. Since then, trading has been tough, not helped by blistering summer weather during which shops on hot high streets have lost out to on