Thu, 13 Mar 2025

Thu, 13 Mar 2025 John Lewis profits jump but no staff bonus again

The retailer will not pay out a staff bonus for the third year in a row.

* John Lewis staff will not receive a bonus for the third year in a row despite reporting a 73% increase in profits to £97m.
* The company's chairman Jason Tarry said he was determined to pay a bonus as soon as possible, but no specific thresholds or criteria have been set for reinstating it.
* John Lewis has given its employees a 7.4% pay rise this year and invested in their workers' pay instead of paying a bonus.
* This is the fourth time in five years that John Lewis has not paid a bonus to staff, with the string of freezes starting in 2020 due to Covid lockdown store closures.
* The company expects job losses in the coming year but plans to minimize redundancies by redeploying existing employees and allowing people to leave their jobs voluntarily.
* Waitrose sales grew 4.4% to £8bn last year, with more own-brand products sold than ever before.
* John Lewis department store sales were flat year-on-year, but the company is confident it can push up profits in the coming year despite a challenging economic environment.
  >>