The John Lewis Partnership is considering reinstating its staff bonus for the first time in four years, contingent on achieving a significant uplift in profits. Internal documents reviewed by the Financial Times reveal that a bonus payout could be triggered if pre-tax profits reach £200 million in the year to February 2026.
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The partnership, which includes John Lewis and Waitrose, currently employs around 69,000 staff. The documents note that "to get there we need to keep focused on the right things and deliver our plans," signalling continued efforts to transform operations and boost performance.
In the year to 25 January 2025, the group reported a rise in pre-tax profits before exceptional items to £126 million, up from £42 million the previous year, following strategic restructuring.
Since September 2024, the company has been under the leadership of chairman Jason Tarry, who succeeded Dame Sharon White. Tarry brings over three decades of experience from Tesco, where he most recently served as UK and Ireland chief executive.
The possible bonus reinstatement reflects renewed optimism within the partnership as it seeks to reward staff amid improved financial health and a focus on sustainable growth.
Source: www.theretailbulletin.com
