John Lewis is 'back in profit' but chair has not ruled out further job cuts

John Lewis will announce a return to profit when it unveils its latest numbers on 14 March but further restructuring pain remains on the cards as outgoing chair Dame Sharon White declines to rule out further job cuts.

White told the BBC's Laura Kuenssberg that the partnership was making "bold changes". "We are trying to simplify the way we work, so that our amazing partners have got more time in front of customers," Dame Sharon said.

Dame Sharon White, John Lewis

John Lewis staff first learned about plans to slash up to 11,000 roles through the media in January. The retailer confirmed plans to further slash its workforce over the next five years and warned of reduced redundancy payouts and pay cuts as part of its complete overhaul.

The company employs over 76,000 workers who are expected to be affected by changes. Out of £10.5 billion in revenues, for its last full year, John Lewis spent £1.8 billion on staff. Therefore, pay is one of John Lewis’s largest costs.

This Thursday's results announcement is also expected to be the first time Peter Ruis will offer some insight into his plans after he returned as Executive Director to head up the department store side of the partnership in January.

Peter Ruis (The Canadian Press/Alamy Live News)

Ruis, a former CEO of Jigsaw and International MD of Anthropologie, had previously been with John Lewis from 2005 to 2013 as its buying and brand director. He was credited at that time with injecting more fashionability into the retailer's fashion offer and was instrumental in the introduction of the high profile John Lewis Christmas ads.

Industry watchers and analysts anticipate a £25 million profit for the last financial year but are not expecting a detailed update from Ruis, who has only been in post for a matter of weeks, but renewed focus on fashionability in clothing and adding more desirability into its home offer is expected.

CEO Nish Kankiwala has recently revealed that the future strategy of the business will be a laser like focus on retail. Dame Sharon had been criticised for focusing too much on long-term property projects, such as the construction of affordable housing on former John Lewis sites, rather then on its core business. It is expected, however, that it will invest in its stores, with Oxford Street said to be a key focus for renewal.

Dame Sharon White has said she will not seek re-election to the post of chair when her current tenure ends next February.