John Lewis partners will receive a 15% bonus as the group revealed gross sales broke the £10bn barrier for the year to January 25.
Sales for the John Lewis Partnership, which includes supermarket Waitrose as well as the eponymous department store, rose 6.6% to £10.17bn over the 12 months. Sales at John Lewis rose 7.5% to £4.06bn. Profit before tax and exceptional items rose 9.6% across the group.
As a result of the company’s strong performance, staff will receive a bonus worth 15% of their annual salary – equivalent to nearly eight weeks’ pay.
Last year partners received a bonus of 17%.
Chairman Charlie Mayfield said: “Our ownership by Partners has played a key role in these results. There are fundamental changes taking place in retail, especially in customer attitudes towards value, convenience and personalisation. For several years we have been adapting our business to take advantage of these changes. That has required high levels of investment, organisational change and new capabilities. The level of change has at times been challenging, but partners have understood and embraced the need for their business to continue to develop.”