Future Retirement Success
  • Politics
  • Business
  • Investing
  • Stocks
  • Politics
  • Business
  • Investing
  • Stocks

Future Retirement Success

Business

John Lewis to end ‘never knowingly undersold’ era on 22 August

by August 12, 2022
August 12, 2022
John Lewis to end ‘never knowingly undersold’ era on 22 August

John Lewis is to retire its 97-year-old price pledge “never knowingly undersold” on 22 August but has yet to reveal a catchy new slogan to take its place.

The department store chain told customers in an email it will not accept new claims under the pledge from 23 August, instead promising them – rather long-windedly – it is “always knowingly committed to outstanding value”.

Explaining its rationale, John Lewis said it was scrapping the historic pledge to focus on “everyday quality and value”.

A spokesperson for the company said neither of these were its new slogan but a “short term message at point of sale to let customers know about the retirement of ‘never knowingly undersold’, and will only be used for another couple of weeks”.

John Lewis is expected to launch a marketing campaign to kick off its new sales pitch in the coming weeks. In November last year, it registered a string of potential catch phrases with the Intellectual Property Office, including “John Lewis: Life is beautiful”, “For hopes and dreams: John Lewis”, “For the joy of life: John Lewis” and “John Lewis for all life’s moments”.

The company said it regularly registered trademarks but not all go on to be used.

The staff-owned department store chain announced in February that it would retire its well known slogan this summer because the price promise did not apply to online-only retailers, and shoppers were increasingly buying online.

John Lewis said it would, however, invest £500m this year, £100m more than in 2021, in lowering prices to offer customers “everyday quality and value” as they face a squeeze on disposable income from the rising cost of living.

The investment will partly help expand John Lewis’s Anyday cut-price range, which it introduced last year.

Under the “never knowingly undersold” slogan, which John Lewis introduced in 1925, the chain commits to refund customers the difference if they find the same item on sale elsewhere for a lower price within 28 days. Only retailers who have a national chain of physical stores are included in the comparison.

The scheme, which cost John Lewis millions of pounds as it was forced to cut prices whenever a rival held a sale, is being ditched as department stores face heavy competition from Amazon and other online specialists, and a surge in costs from energy to staffing.

The retailer first revealed the pledge was under review in March 2020, a month after Sharon White joined as chair.

White is overhauling the group, which is staff-owned and also operates Waitrose supermarkets, with the aim of reaching profits of £400m by 2025 compared with a loss of £26m reported this year. The plan involves saving £300m in annual costs by this year and spending £1bn over the five years to 2025 to revamp shops and its online business.

Read more:
John Lewis to end ‘never knowingly undersold’ era on 22 August

0
FacebookTwitterGoogle +Pinterest
previous post
UK’s trade deficit widens to record £27.9bn as business with Russia reaches historic low
next post
Biggest UK fall in real wages for 100 years looms

You may also like

When the Balance Sheet Crumbles: A Deep Dive...

September 15, 2023

How Easy Is It To Get A Loan...

March 13, 2025

UK drops out of top ten manufacturing nations...

July 29, 2024

Financial Strategies and Innovations: Navigating the Future of...

September 2, 2024

How to Build a Successful Ecommerce Business

September 27, 2022

HMRC issues first individual tax avoidance Stop Notices...

May 15, 2025

Czech Billionaire Plans £400m Overhaul for Royal Mail,...

May 31, 2024

Hotel Challenges in the modern world and how...

August 15, 2023

How to Find the Best Non-Gamstop Casino.

October 21, 2023

3,000 businesses back Better Business Act in push...

April 2, 2025

    Get free access to all of the retirement secrets and income strategies from our experts! or Join The Exclusive Subscription Today And Get the Premium Articles Acess for Free

    By opting in you agree to receive emails from us and our affiliates. Your information is secure and your privacy is protected.

    Recent Posts

    • Trump warns of ‘serious consequences’ if Elon Musk funds Democrats

      June 7, 2025
    • Musk jokes about reconsidering stance on Big Beautiful Bill after Schiff’s praise

      June 7, 2025
    • Musk deletes explosive posts about Trump and Epstein files

      June 7, 2025
    • House witness flips script on Dem who ambushed him during hearing with unearthed tweet: ‘Iceberg is ahead’

      June 7, 2025
    • Call with China’s Xi, and Trump-Musk exchange fueled barbs during 20th week in office

      June 7, 2025
    • Trump’s conservative allies warn Congress faces critical ‘test’ with $9.4B spending cut proposal

      June 7, 2025

    Categories

    • Business (8,152)
    • Investing (2,019)
    • Politics (15,568)
    • Stocks (3,136)
    • About us
    • Privacy Policy
    • Terms & Conditions

    Disclaimer: futureretirementsuccess.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

    Copyright © 2025 futureretirementsuccess.com | All Rights Reserved