Key facts
- John Lewis managing director Peter Ruis is departing the company.
- Ruis's tenure focused on in-store refurbishments and the 'never knowingly undersold' pledge.
- The department store faces increasing competition from online rivals.
- John Lewis's online sales increased by 11% in the past year.
- Will Kernan, former River Island boss, will succeed Ruis.
- Group chair Jason Tarry expressed caution about future sales and the staff bonus model.
John Lewis managing director Peter Ruis has announced his surprise departure from the department store, effective in September. His exit comes as the group's chair, Jason Tarry, warns of an impending period of falling sales and acknowledges the need to adapt to an unexpected economic future. Ruis, who rejoined John Lewis in January 2024, focused on refreshing the retailer's physical stores, including the reinstatement of the 'never knowingly undersold' pledge and significant investment in flagship locations. However, retail analyst Richard Hyman suggests that Ruis's successor, Will Kernan, may shift focus towards enhancing the group's online sales, which currently account for 60% of its nearly £4 billion revenue and saw an 11% increase last year. Kernan, who has served as a non-executive director since 2023 and has 35 years of retail leadership experience, faces the challenge of navigating a cautious customer base squeezed by high taxes and rising costs. He will also have to manage the partnership's staff bonus model, which Tarry reinstated this year due to improving cash generation but warned could be cut again if conditions worsen.