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

Russia’s former transport minister Roman Starovoit discovered lifeless ‘with gunshot wound’

Russia’s former transport minister Roman Starovoit discovered lifeless ‘with gunshot wound’

World
July 7, 2025
Trump tariff deadline prolonged as new threats issued to BRICS states

Trump tariff deadline prolonged as new threats issued to BRICS states

The date for Trump's tariffs to take impact has been prolonged, with offers being despatched…

July 7, 2025
Not within the Temper? Attempt These 11 Workout routines to Enhance Need

Not within the Temper? Attempt These 11 Workout routines to Enhance Need

We could obtain a portion of gross sales if you are going to buy a…

July 7, 2025
Dustin Might has his finest begin of season as Dodgers sweep White Sox

Dustin Might has his finest begin of season as Dodgers sweep White Sox

The Dodgers have spent more cash on pitching, particularly beginning pitching, than any group within…

July 7, 2025
Building begins in Ingham and Eaton Counties

Building begins in Ingham and Eaton Counties

LANSING, Mich. (WLNS) -- Beginning Monday, the Michigan Division of Transportation (MDOT) says street work…

July 7, 2025

YOU MAY ALSO LIKE

Tesla shares sink as Musk launches political celebration

Shares in Elon Musk's Tesla have reversed sharply amid renewed considerations about his give attention to the corporate's restoration as…

Business
July 7, 2025

Former Sainsbury’s chief King in body to go Channel 4

Justin King, certainly one of Britain's most outstanding businessmen, is within the body to change into the following head of…

Business
July 7, 2025

Constructing societies step up protest in opposition to Reeves’s money ISA reforms

Constructing society chiefs will this week intensify their protests in opposition to the chancellor's plans to chop money ISA limits…

Business
July 7, 2025

Former Labour chief Lord Kinnock requires wealth tax to assist ailing authorities funds

Former Labour chief Neil Kinnock has known as for a "wealth tax" to assist the federal government's dwindling funds.Lord Kinnock,…

Business
July 7, 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?