John Lewis is scaling back store expansion plans as property developers delay or shelve regional shopping centre development projects.
John Lewis announced in 2003 that it would open 10 stores by 2014. It has opened four so far with another two – Stratford, East London and Cardiff – scheduled for completion this year.
John Lewis says it does not now know when developments in Oxford, Leeds, Preston, Sheffield, Dublin, Sprucefield, Northern Ireland, Crawley and Portsmouth will go ahead and is therefore being forced to re-think its development programme.
The high street department store is expected to announce its new advertising agency shortly. Incumbent Lowe London resigned the £20m account after a review was announced in November.
The shortlist for the John Lewis account is now down to Adam & Eve and Miles Calcraft Briginshaw Duffy, which is retained by John Lewis group supermarket chain Waitrose.