John Lewis Partnership’s managing director of 25 years, Paula Nickolds, is set to step down as the department store reported like-for-like sales down 2.3 per cent to £1.13 billion during the seven weeks to 4 January.

She is due to leave in February as part of the retailer’s ongoing management reshuffle. Her departure comes three months after Rob Collins, managing director of sister company Waitrose, also stepped down as part of plans to integrate the teams under one executive structure.

Nickolds was about to become the new executive director of brand, overseeing both divisions in a newly created role which she was due to take up in February.

However, outgoing chairman Charlie Mayfield explained: “After some reflection on the responsibilities of her proposed new role, we have decided together that the implementation of the future partnership structure in February is the right time for her to move on and she will leave the partnership with our gratitude and best wishes for the future.”

He also announced that staff may miss out on an annual bonus for first time in 67 years.

“At the full year, we expect profits in Waitrose & Partners to be broadly in line with last year,” Mayfield stated. “In John Lewis & Partners we will reverse the losses incurred in the first half of the year, but profits will be substantially down on last year – we therefore expect that partnership profit before exceptionals will be significantly lower than last year.”

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