“Going up?” After a difficult week for the retail sector, that once-optimistic sales aspiration feels as dated as the singsong phrase from the opening credits of the 1970s sitcom Are You Being Served? Simpsons of Piccadilly, which served as the inspiration for the fictional Grace Brothers department store in that show, is long gone, and several of its modern equivalents are now fighting for survival against an increasingly hostile commercial landscape.
The boss of John Lewis, Peter Ruis, has decided to exit the elevator, announcing his abrupt departure from the UK’s largest department store chain. This news followed the collapse of Harvey Nichols, the luxury Knightsbridge store once synonymous with 1990s chic, which was bought out of administration for a knock-down price by Mike Ashley’s Frasers Group after being described as being in a “death spiral.”
It was only nine months ago that Ruis was discussing the potential expansion of the 36-store chain, and a burst of investment was widely credited with reviving sales. Since then, however, trading has been exceptionally tough. The sector has been hampered by blistering summer weather, which drove shoppers away from hot high streets toward online specialists, while the high cost of living has forced consumers to put big-ticket purchases, such as sofas and beds, on hold.
John Lewis officially stated that Ruis decided to step down to “pursue new projects.” For his part, Ruis claimed he was leaving the business on a “stronger footing.” Despite these assurances, the timing of the departure has been met with significant scepticism by those familiar with the company, particularly because John Lewis had organized a media briefing led by Ruis on September 3, just three days before his scheduled exit.
Insiders suggest that Ruis had been discussing an exit for months. Those close to the executive maintain he is leaving “on his own terms,” potentially due to personal reasons, and he does not appear to have a new position lined up. Ruis is set to be replaced by Will Kernan, a non-executive board member of the employee-owned John Lewis Partnership, which also operates the Waitrose supermarket chain.
Sources who have worked with Ruis, a fashion industry veteran, note that he and Jason Tarry, the chair of the department store’s parent group, possess notably different career backgrounds and management styles, making a long-term professional alignment unlikely. Ruis returned to the business in 2024 after a decade away running retailers like Jigsaw and Anthropologie, while Tarry, a former Tesco executive, assumed the top leadership role shortly after.
Internal reactions to the departure have been mixed. While one source remarked, “I am surprised Peter has lasted as long as he has,” Tarry publicly praised Ruis for doing a “fantastic job.” Nick Bubb, an independent retail analyst, observed that the sudden exit occurred despite Ruis “appearing to be doing a good job in difficult circumstances,” though he noted the difficulty in ignoring the recent comments from Tarry regarding the tough trading environment at John Lewis.
During his tenure, Ruis led the revival of the group’s 100-year-old “never knowingly undersold” promise, which contributed to a successful festive season. He also oversaw the renovation of major stores in Oxford Street, Bluewater, and Glasgow, and spearheaded the launch of new product lines. Last year, the chain increased sales by 3% to £4.9bn, with underlying profit rising 29% to £58m, allowing staff to receive their first annual bonus in four years.
Retail analyst Richard Hyman suggested that while Ruis was prone to significant investments, his strength lay in brand identity. “For a department store to work, it has got to be a really strong brand. It is about handwriting and that is something Peter Ruis is good at,” Hyman noted. Another industry source added that Ruis was “getting the best tune out of it on trading that was possible, but the issue is more strategic change and grasping nettles.”
The leadership role at John Lewis has been subject to high turnover since 2016, when Andy Street departed after a decade. His successors, Paula Nickolds and Pippa Wicks, served four years and less than three years respectively, followed by Nish Kankiwala, who served as chief executive for two years before hiring Ruis. Hyman suggested that Tarry was unlikely to have wanted to initiate major changes so soon after a management transition at Waitrose.
The broader industry context remains grim. In recent years, the family-owned Fenwick chain closed its London flagship on Bond Street, the Weston family sold Selfridges in 2022, and House of Fraser has been reduced by two-thirds since 2018 to just 20 outlets under Mike Ashley’s ownership. Some analysts believe John Lewis will be forced to reduce its footprint further, following the closure of 16 department stores during the Covid-19 pandemic. The report also notes that the role has been stuck in the revolving doors since 2016 when Andy Street left after a decade. The report also notes that with Tarry potentially wanting to keep a tighter rein on investment than Ruis was prepared to accept, it is possible that Ruis and Tarry fell out over strategy. The report also notes that department stores now face heavy competition from the internet, which can host an almost inexhaustible array of products, once the only places where consumers can compare and buy a wide range of brands under one roof. The report also notes that attracting bills for huge business rates and hefty costs to keep them updated and in tune with the latest trends, large sites have become a burden. The report also notes that the next gyms, massage rooms and beauty parlours, one moment stores are adding cafes and bars. The report also notes that but flexing a large store to accommodate the latest tastes can take many months and millions of pounds while websites can adjust in the beat of an algorithm, homewares may boom in sales one year and technology the next. The report also notes that and can no doubt see a chance to make more of these sites with a mix of his brands and potentially other services such as hotels or gyms, ashley is an expert in property development.
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