What: As the chairman just announced her departure in 2 years, making it the shortest tenure in the history of the retailer, the company maintains its plans to diversify towards housing

Why it is important: Many critics argue this is making the company lose focus on its core mission. Advocates maintain this is a way to address the future.

John Lewis Partnership (JLP) is advancing its property-to-rent initiative, aiming to develop its brownfield sites for housing. This decision remains steadfast even as chairman Sharon White, who initiated this plan, is set to depart at the end of her term. Nina Bhatia, JLP's executive director for strategy and commercial development, highlighted the company's substantial property estate, indicating its potential for creating quality housing on brownfield sites. The plan involves offering long-term rental options, including affordable housing, without selling the homes. While the scheme addresses the UK's housing shortage, some criticize it for shifting JLP's attention from retail, especially when their John Lewis and Waitrose chains face challenges. Initial developments target London, where a significant portion of the population rents. JLP views this venture as an opportunity to enhance local communities, creating jobs, new communal spaces, and introducing new Waitrose shops – which also serve as John Lewis click & collect locations. Investment firm Abrdn is backing the Build to Rent business with a £500 million investment, aiming to construct 1,000 homes. JLP aspires for this project to constitute 40% of its profits by 2030. Recent figures showed JLP reduced its losses, with sales rising 2% year-on-year. However, the company acknowledged a more extended turnaround period due to inflation.

In spite of opposition John Lewis keeps focusing on real estate