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Business News

Bonuses up at John Lewis after bumper year

John Lewis Partnership is expected to reward staff with an increased bonus of up to 16 per cent of their salary next week after a strong rebound in its annual profits.

The owner of the John Lewis department store and Waitrose supermarket handed its 81,000 employees a bonus of 14 per cent, equal to seven weeks' pay, last year from a pot of £165.2m. This payout is expected to be raised to between 15 per cent and 16 per cent for the year to 26 January, reflecting a reported 59.8 per cent jump in half-year profits and strong Christmas trading.

JLP declined to comment on the bonus.

John Lewis said it would invest £57m in its 39 shops before 2014, of which £32m will be lavished on four stores, including its London flagship on Oxford Street.