Summary
John Lewis will pay staff a bonus for the first time in four years after reporting increased profits. The company faced financial difficulties during the Covid pandemic but is now seeing improved performance under new leadership.
Key Facts
- John Lewis is giving staff a 2% bonus, equal to an extra week's pay, after a four-year break.
- The bonus was not given during Covid as the company made big changes, like closing some shops and cutting jobs.
- John Lewis reported a 6% rise in underlying profits to £134 million.
- The business recorded a pre-tax loss of £21 million because of £120 million in one-time costs mostly from old tech system write-downs.
- Sales for the year grew by 5% to £13.4 billion.
- Waitrose supermarket sales increased by 7%, higher than John Lewis department stores, which saw a 3% rise.
- Jason Tarry became the new chair of John Lewis in 2024, replacing Dame Sharon White.
