Staff at John Lewis in Cheadle, one of the larger employers in Stockport, are celebrating after Head Office announced that the company’s Partners are set to share a bonus pot of £202.5m, and receive an extra 15% of their salary, equal to 8 weeks’ pay.
Gross sales exceeded £10bn for the Partnership, with profit before the Partnership Bonus, tax and exceptional item up by almost 10% resulting in the share for all staff who are also all Partners.
The John Lewis and Waitrose partnerships both performed well in-store with online sales showing the largest area of growth: sales at jonnlewis.com increased by over 19.2% and click & collect grew by a staggering 57%. An additional £85m cash contribution to final salary pension scheme was made in January.
Charlie Mayfield, left, Chairman of John Lewis Partnership, commented:
‘”This has been another good year for the Partnership. Both Waitrose and John Lewis increased market share for the fifth consecutive year, profit before exceptionals has grown by almost 10% and, for the first time, we have achieved sales of over £10 billion. As a result of our performance, I am delighted that 91,000 Partners will receive a Bonus of 15%, equivalent to nearly 8 weeks’ pay. The Bonus reflects the balance of a strong trading year, but also the increased costs of pension provision. The exceptional costs of £47m, relating to holiday pay premiums (announced in August), did not affect the bonus percentage”.
Mr Mayfield continued:
“Innovation in product and service continues to be vital in today’s market and there have been great examples of that in Waitrose and John Lewis. We have improved our omni-channel offer significantly with new online platforms for both brands and expansion of the hugely popular Click & collect service”.
As reported by MEN Media, Margaret Jaques, head of branch, John Lewis Cheadle said:
“We are delighted to report a strong trading year for John Lewis Cheadle for 2013. Beauty and fashion accessories have attracted the greatest interest as we introduced new brands including Jo Malone, Coach and Michael Kors. Our own brands in menswear including KIN and John Lewis &Co have also had a great year and our gifting offer continued to excite at Christmas.
“Technology has also continued to dominate, be that televisions, DSLR cameras, laptops and music streaming systems, as well as kitchen appliances, aided of course by Black Friday.
“We are really seeing the fruits of our refurbishment from 2011 come to life at John Lewis Cheadle and we’ve continued to invest in our shop. I’d like to thank our staff who continue to create a great shopping experience our customers have come to enjoy and expect.”
Source: The John Lewis Partnership / MEN Media