The John Lewis Partnership is now the UK’s best performing employee-owned business, overtaking The Co-operative Group in the 2015 rankings.
The mutual behind the eponymous and Peter Jones department stores, claimed the top spot after posting a turnover of £10.9bn in the year to January 31, narrowly ahead of The Co-operative Group’s £10.81bn for 2014.
The report by industry body Co-operatives UK showed that the John Lewis Partnership has 93,800 members, significantly less than The Co-operative Group’s 8.4m.
Co-operative businesses, of which there are 6,796 across the UK, contributed £37bn to the economy in 2014, a growth of 15% over five years. The figure is a 2.8% decline on last year’s £38bn.