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John Lewis staff poised for 14% bonus

Staff at the John Lewis Partnership, which owns the eponymous department store, are expected to receive around 14% of their annual salary when the retailer reveals strong full-year profits this week.

The retail group is poised to reveal on Thursday that pre-tax profit for the year to January 31 was £315m compared with £280m a year ago.

The improved performance at the retail bellwether at is expected to have come as a result of a strong second half of 2009 and is enough to earn its 70,000 staff a payout equivalent to almost eight weeks’ pay.

The John Lewis Partnership - which also includes grocer Waitrose - is owned by its employees, who all share in the bonus pot. Last year the bonus stood at 13% and the year before it was 20%.

The figure will be revealed simultaneously at 9.30am on Thursday in all 29 John Lewis stores when a member of staff opens an envelope containing the number.

Arden Partners analyst Nick Bubb expects John Lewis to record an EBIT of £168m, up from £144m last year.

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