John Lewis and Waitrose Pay First Staff Bonus in Four Years After Profits Rise
The John Lewis Partnership, which includes the John Lewis department stores and Waitrose supermarkets, has announced its first annual staff bonus in four years. This significant move comes as the employee-owned retail group reports a substantial increase in both sales and profits for the latest financial year.
Bonus Details and Financial Performance
A total of 69,000 employees, referred to as partners within the company, will receive a bonus equivalent to 2% of their salary. This payment follows a year where sales rose by 5% to reach £13.4 billion, while profits climbed to £134 million for the period ending January 31. The partnership, which operates stores in Solihull and across the West Midlands, had not paid a bonus since 2022, making this announcement a notable milestone for the workforce.
Leadership Comments and Strategic Outlook
Chair Jason Tarry expressed gratitude for the commitment and passion shown by partners, highlighting that the multi-year investment plan in customers and brands is yielding positive results. He stated, "We have grown customer numbers and achieved record satisfaction. Despite a subdued market and increased taxes, we continued investing in the business, delivering cash and profit growth." Tarry added that the growing cash generation and strong balance sheet enable further investments in brands and partners to enhance customer experiences.
The partnership remains cautious about trading prospects for 2026/27, citing a challenging macroeconomic environment. However, it emphasized improved liquidity and low external borrowings as strengths that position it well to navigate uncertainties. The company is committed to its retail-first strategy, aiming to unlock potential across all brands and make further progress in the coming year.
