Another victory for employee ownership as John Lewis retains the top spot, boasting profits up 60% to £144.5m. Posh supermarket arm Waitrose’s like-for-like sales are up 9.2% and the Olympics gave JLP a big boost – it was a sponsor and sold official merchandise. DIY and home retailer Kingfisher climbed one place to second, despite a 20% slump in profits blamed on bad summer weather. Boss Ian Cheshire can take consolation from industry recognition of his work on strategy, however – the group topped the sector list for quality of management. M&S dropped to third: food sales in the first half rose by 1.1% but overall revenues were down 1.4% and profits fell 9.6% to £290m. Dunelm rises one to fourth place.
BMAC 2012 by sector: Retailers (broadline/home)
|1.||John Lewis Partnership
|3.||Marks & Spencer