Deals
John Lewis Chief Skeptical Over Sainsbury, Home Retail Tie-Up
- Street says union wouldn't have John Lewis/Waitrose attributes
- Expects pressure on retailers to lead to further consolidation
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The head of John Lewis department stores is skeptical over the merits of combining J Sainsbury Plc with Home Retail Group Plc, saying a union between the U.K. retailers wouldn’t replicate the attributes of his company’s grocery and non-food stores.
John Lewis has a “huge overlap” with the customer base of Waitrose, the supermarket chain with which it shares employee ownership, Andy Street said in an interview Wednesday after the retailer reported a web-fueled gain in holiday sales.