John Lewis and Waitrose staff in the West Midlands will be among 69,000 workers nationwide who will share a record bonus pot of £181.1 million after annual profits rose 19 per cent today.
The payout from the partnership, which is co-owned by its employees, is 18 per cent higher than last year and equivalent to more than 10 weeks’ pay – or a fifth of salary – for each member of staff.
John Lewis’s profits before partnership bonus and tax for the year ended January 26 were up £59.7 million to £379.8 million.
Charlie Mayfield, chairman of John Lewis Partnership, said: “The partnership has had a successful year in a challenging trading environment.”
Staff at Waitrose will also benefit from the bonus. Last year they got a windfall equivalent to nine weeks’ pay.
Overall group sales from continuing operations were up 6.3 per cent last year to £6.8 billion.
Waitrose, which contributed the lion’s share of just under £4 billion, saw like-for-like sales rise by 3.6 per cent excluding petrol. The chain has 187 branches including Wolverhampton, Stourbridge and Four Oaks, near Sutton Coldfield. Sales at John Lewis, which has 26 department stores, including Solihull and an on-line operation, grew five per cent to £2.8 billion.
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