Survival of the fittest

John Lovering

John Lovering, the chairman of Debenhams and Somerfield, tells how to be a winner in retailing. Current pressure on retailers are intense: the government's only approach to helping is more regulation.

Survival of the fittest

John Lovering Chairman, Debenhams and Somerfield

The jungle that is UK retail is getting tougher. Consumer debt, stealth taxes and new necessities, such as mobiles, Sky TV and second holidays, are all taking their share of wallet. Added to these challenges are rising operating costs, minimum wages, increasing energy bills and a government seemingly committed to boosting shop theft.

These pressures are further compounded by space growth of 3–4% per annum, so 0% like vs like is the new norm, a big problem when costs are rising 4–5%.

The 'get out of jail' card of...

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