Around 69,000 staff at British department store chain John Lewis will share a record bonus pot of £181.1 million after annual profits rose 19% today.
The payout from the partnership, which is co-owned by its employees, is 18% 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 £59.7m (€77.7M) to £379.8m (€494.5m).
Charlie Mayfield, chairman of John Lewis Partnership, said: “The partnership has had a successful year in a challenging trading environment.”