* Good day, everyone. Since you’ve just heard about the plus side, let us now talk about the weakness. Some may find the first few familiar but I’ll mention them again anyway. * Firstly, in 2008, a scandal over expenses claimed by Members of Parliament revealed that John Lewis prices were being used as a guide to the maximum costs refundable to MPs when equipping London pieds a terre at a public expense. * Secondly, last year, pre-tax profits fell 3.8%, to £354 million. * Thirdly, the very wet summer in 2012 has affected profits of businesses including retail and the hospitality industry. * Besides that, there are a number more that we’ve manage to look up such as how * John Lewis performance slipped over the 2010 Christmas period. While all retailers practically underperformed during this time, John Lewis was the most exposed. At the time of writing, the share price was 361p with the 52-week low of 367p and high of 759p, which means that John Lewis M&S had lost more than 50% of its value during the year (Sunday Times, 2011). * Similarly, the price/earnings ratio of 9.4 is very low as compared to that of its competitor’s i.e. Mark and Spenser. The price/earnings ratio is the key indicator of investor assurance in a company (Arnold, 2002). * Next, John Lewis has recently started cutting prices to match up the ever increasing competition. This may devalue the brand (The Economist, 2012). * Lastly, The company has been recently criticized for fuelling accusations of poor managerial incompetence, corporate governance and lack of transparency infuriating many large investors (Nugent and Hawkes, 2012). * Thank you.