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.