John Lewis Partnership Awards Bonus to 69,000 Staff After Four Years

The John Lewis Partnership, the employee-owned retailer behind the John Lewis department stores and Waitrose supermarkets, has awarded its 69,000 staff members an annual bonus for the first time in four years, following a rise in sales and underlying profits.

The 2 percent bonus, equivalent to an extra week's pay for many employees referred to as partners within the business, comes after a financial year marked by steady recovery. Total sales increased by 5 percent to £13.4 billion for the 12 months ended January 31, with Waitrose outperforming its department store sibling. Supermarket sales grew 7 percent to £8.5 billion, while John Lewis stores saw a 3 percent rise to £4.9 billion. Underlying profits before tax climbed to £134 million, up from the previous year, though the company reported an overall pre-tax loss of £21 million due to one-off charges, including a £120 million writedown on legacy technology systems.

Chairman Jason Tarry attributed the improvement to the company's multi-year transformation strategy, which prioritizes investments in customer experience and brands. "Our multi-year plan to invest in customers and our brands for the long term is working," Tarry...