“John Lewis Partnership Announces 2% Staff Bonus”

John Lewis Partnership plans to grant its employees an annual bonus for the first time in four years. The company, which operates John Lewis stores and Waitrose supermarkets, announced a 2% bonus for staff, totaling around £35 million. This marks the first bonus distribution since 2022, following pandemic-related shop closures and staff reductions. With approximately 65,000 employees, the company reported a 6% increase in profits before tax, bonus, and exceptional items to £134 million. Despite a pre-tax loss of £21 million, attributed to write-downs on outdated tech systems and increased costs due to tax changes, John Lewis Partnership saw a 5% rise in overall sales to £13.4 billion for the year. The company expressed caution regarding the current financial year due to a challenging economic environment. Chairman Jason Tarry emphasized mixed consumer sentiment, noting growth in supermarket sales but challenges in discretionary spending areas. Despite concerns about the global situation, the company remains optimistic about its transformation program progress and ongoing investments in retail operations. Recent decisions to halt property development initiatives reflect a strategic shift towards core retail priorities. Mr. Tarry highlighted customer growth and satisfaction records, reaffirming the company’s commitment to long-term investments despite market challenges and increased taxes.