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John Lewis staff set for 16% bonus

John Lewis staff are expected to be rewarded with a 16% bonus this year after the retailer’s profits jumped.

According to the Independent, the department store chain will reward its staff with an increased bonus. Last year staff received a 14% bonus after a sales rise, but it expected that this year’s bonus will to between 15% and 16%.

The bonus rise comes after The John Lewis Partnership last year announced a rise in pre-tax profit of nearly 60% for the first six months of the year compared with 2011.

The retailer has also announced it will invest £57m in its 39 shops before 2014, with £32m being spent on four stores, including its London flagship on Oxford Street, which will have £8m spent on it.

High Wycombe, Kingston and Nottingham will also benefit in 2013, and there is £25m earmarked for other, smaller investments across the store portfolio before 2014.

 

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