We collect cookies to analyze our website traffic and performance; we never collect any personal data.Cookies Policy
Accept
Michigan Post
Search
  • Home
  • Trending
  • Michigan
  • World
  • Politics
  • Top Story
  • Business
    • Business
    • Economics
    • Real Estate
    • Startups
    • Autos
    • Crypto & Web 3
  • Tech
  • Lifestyle
    • Lifestyle
    • Food
    • Beauty
    • Art & Books
  • Health
  • Sports
  • Entertainment
  • Education
Reading: John Lewis Partnership earnings leap however no bonus for third consecutive yr
Share
Font ResizerAa
Michigan PostMichigan Post
Search
  • Home
  • Trending
  • Michigan
  • World
  • Politics
  • Top Story
  • Business
    • Business
    • Economics
    • Real Estate
    • Startups
    • Autos
    • Crypto & Web 3
  • Tech
  • Lifestyle
    • Lifestyle
    • Food
    • Beauty
    • Art & Books
  • Health
  • Sports
  • Entertainment
  • Education
© 2024 | The Michigan Post | All Rights Reserved.
Michigan Post > Blog > Business > John Lewis Partnership earnings leap however no bonus for third consecutive yr
Business

John Lewis Partnership earnings leap however no bonus for third consecutive yr

By Editorial Board Published March 13, 2025 2 Min Read
Share
John Lewis Partnership earnings leap however no bonus for third consecutive yr

The John Lewis Partnership (JLP) has revealed a 73% rise in annual earnings however says workers will obtain no bonus for the third yr in a row.

The worker-owned enterprise, behind John Lewis malls and Waitrose supermarkets, stated earnings over the 12 months to January got here in at £97m – up from the £56m achieved within the earlier yr.

Group gross sales rose 3% to £12.8bn in a yr when the division retailer chain restored its ‘By no means Knowingly Undersold’ value promise that was scrapped in 2022.

Cash newest: High chef reveals one factor prospects ought to learn about their invoice

However new chair Jason Tarry signalled an additional £600m funding in its operations on the again of the improved revenue efficiency and a give attention to common pay for employees, generally known as companions, over a one-off reward.

A 7.4% wage rise was revealed earlier this month because the enterprise moved to bolster retention amid the barren spell for annual bonuses that has solely seen one paid out during the last 5 years.

The final monetary yr marked solely the fourth time since 1953 that JLP had not awarded a bonus.

Mr Tarry, who succeeded Dame Sharon White six months in the past amid a publish pandemic turnaround plan that included the closure of underperforming shops and 1000’s of job losses, stated “careful consideration” had been given to the bonus.

Picture:
Jason Tarry. Pic: JLP

He informed the group’s 73,000 companions: “These are stable outcomes, which present that our prospects are responding effectively to our investments in high quality merchandise, worth and repair.

“We have made good progress with much more still to do.

“Wanting ahead, I see vital alternative for progress from each our Waitrose and John Lewis manufacturers.

“Our focus will be on enhancing what makes these brands truly special for our customers.

“This can contain appreciable catch-up funding in our shops and provide chain.”

TAGGED:BonusconsecutiveJohnLeapLewispartnershipprofitsyear
Share This Article
Facebook Twitter Email Copy Link Print

HOT NEWS

Wes Streeting guidelines out pay rises for hanging resident medical doctors saying they’ve ‘squandered goodwill’

Wes Streeting guidelines out pay rises for hanging resident medical doctors saying they’ve ‘squandered goodwill’

Politics
July 30, 2025
Apollo expenses in for stake in £7bn petrol retailer Motor Gasoline Group

Apollo expenses in for stake in £7bn petrol retailer Motor Gasoline Group

The funding large Apollo World Administration is near snapping up a stake in Motor Gasoline…

July 30, 2025
Ozzy Osbourne is given ultimate tour of Birmingham – with hundreds of followers flooding streets to pay their respects

Ozzy Osbourne is given ultimate tour of Birmingham – with hundreds of followers flooding streets to pay their respects

Ozzy Osbourne has taken his ultimate tour of Birmingham - together with his household experiencing…

July 30, 2025
Electrical plane deemed the 'way forward for aviation' displayed in Lansing

Electrical plane deemed the 'way forward for aviation' displayed in Lansing

LANSING, Mich. (WLNS) — A ribbon-cutting ceremony on the Capital Area Worldwide Airport in Lansing…

July 30, 2025
Russian earthquake triggers tsunami warnings throughout the Pacific – what we all know thus far

Russian earthquake triggers tsunami warnings throughout the Pacific – what we all know thus far

An earthquake off the Russian peninsula of Kamchatka has triggered tsunami warnings in Japan, China,…

July 30, 2025

YOU MAY ALSO LIKE

Over-50s financial savings account launched – must you go there?

For this week's Financial savings Information, Anna Bowes, private finance professional from The Personal Workplace, takes a have a look…

Business
July 30, 2025

Official receiver could step in as council care supplier NRS Healthcare nears collapse

A non-public equity-backed supplier of care providers to weak sufferers throughout England is getting ready to insolvency, prompting Whitehall officers…

Business
July 30, 2025

Commerce struggle: Aston Martin outlines plan to beat US tariff hit as earnings sink

Aston Martin Lagonda has revealed a plan to carry ahead manufacturing at first of subsequent yr because it appears to…

Business
July 30, 2025

Hedge fund tycoon Hosking says rival Telegraph bid

The hedge fund founder enlisted to again a bid for The Every day Telegraph says the provide is "ready to…

Business
July 30, 2025

Welcome to Michigan Post, an esteemed publication of the Enspirers News Group. As a beacon of excellence in journalism, Michigan Post is committed to delivering unfiltered and comprehensive news coverage on World News, Politics, Business, Tech, and beyond.

Company

  • About Us
  • Newsroom Policies & Standards
  • Diversity & Inclusion
  • Careers
  • Media & Community Relations
  • Accessibility Statement

Contact Us

  • Contact Us
  • Contact Customer Care
  • Advertise
  • Licensing & Syndication
  • Request a Correction
  • Contact the Newsroom
  • Send a News Tip
  • Report a Vulnerability

Term of Use

  • Digital Products Terms of Sale
  • Terms of Service
  • Privacy Policy
  • Cookie Settings
  • Submissions & Discussion Policy
  • RSS Terms of Service
  • Ad Choices

© 2024 | The Michigan Post | All Rights Reserved

Welcome Back!

Sign in to your account

Lost your password?