Peter Ruis, who is due to step down as managing director of John Lewis this month, has said that British businesses are facing a “permacrisis externally [which] isn’t going to go away”.
Ruis urged the government not to hike business rates on large retailers, warning that the rumoured tax rise would be “terrible” for the high street.
It has been reported that the government could hike the highest business rates multiplier, which applies for stores with a value of more than £500,000. This rate currently stands at 50.8p.
It is “really, really critical” that Labour does not add to the business rates burden facing high streets, which he said is already “out of kilter”.
Ruis stressed: “We are so passionate about being in those regional centres, and the brunt of business rates is carried by retailers. If we can get that reform, that is much needed, the economy moves fastest with retail and hospitality.
“Nobody wants those city centres, town centres and high streets with closed shops, and a lot of the smaller stores who won’t be affected are also against it because they need people like us. John Lewis is the anchor pretty much everywhere we are.”
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Ruis, who returned to John Lewis in January 2024, will remain with the retailer until 6 September. Partnership board member Will Kernan will succeed him.
John Lewis said the leadership change formed part of an “orderly succession plan”.
During his latest stint at the retailer, Ruis has overseen a wide-ranging modernisation programme, including the overhaul of its century-old Never Knowingly Undersold promise, investment across its store estate and changes to its digital platform and search capabilities.
Ruis described himself as an “eternal optimist” about Christmas, and is also forecasting that this year’s early budget on 28 October will be “exponential for all retailers”.
“This [year’s] Christmas advert is my last and it is going to be amazing. It is my first ever Christmas off and I will proudly cheer from the sidelines and get my popcorn ready for the Christmas advert as it appears,” he said.
“It is always a better way than finishing bottom of the league and running out of the door. I’m leaving a winning team at the top of its game.”
John Lewis opened its online Christmas shop at the end of August as it reported searches for “Christmas” jumped by more than 33 per cent immediately after the World Cup final. The waitlist for its beauty advent calendar came ever earlier, launching on 11 August.
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