Posh shop John Lewis is set to ditch its "never knowingly undersold" price promise.
The new chairman, Dame Sharon White, said the business was "definitely looking at how it can improve" the 95-year-old policy under which it matches prices with bricks-and-mortar shops, but not online-only rivals.
It has been the company's slogan since 1925.
Reports said the change would be in place by October.
Ms White, the first woman to run the chain in its 156-year-old history, said: "We are reviewing it because shoppers are shopping in different ways."
With its online sales increasing from about 40% to 60% during the pandemic,
John Lewis has faced growing criticism for keeping the famous slogan.
Ms White, 53, would not speculate on the phrasing of a new slogan.
It has previously come under fire because it didn't reflect the age of onloine shopping,
The slogan promises to refund the difference in price to any shopper who could find a product it sold cheaper elsewhere within 28 days.
But the promise did not apply to online-only retailers, which have lower operating costs typically allowing them to beat high street rivals on pricing.
While Ms White has not confirmed the plans, she is looking to shake up the retailer's business.
She is looking at a deal to distribute Waitrose food with rival online services after the end of its partnership with Ocado, which will switch to selling Marks & Spencer products from next week.
The chain has already announced the closure of eight of its department stores, including its flagship Birmingham premises which opened just five years ago.
Ms White told the Sunday Times the chain needed "more inspiration, surprise, fun."
She said John Lewis would compete by "curating" items in store better and shifting its focus to women's fashion, and financial, home and garden product offerings.
The stores would also do away with travel and spa services, she added.
