×
4 264
Fashion Jobs
HOLLISTER CO. STORES
Hollister CO. - Brand Representative, New Street
Permanent · Birmingham
GILLY HICKS STORES
Gilly Hicks - Brand Representative, Arndale
Permanent · Manchester
VF INTERNATIONAL
Credit Controller (Strategic Accounts)
Permanent · NOTTINGHAM
L'OREAL GROUP
Credit Controller Apprentice - Manchester
Permanent · Manchester
DR. MARTENS
Assistant Digital & Social Marketing Manager Apac
Permanent · HONG KONG
HUGO BOSS UK LTD.
Warehouse Operations Manager
Permanent · LONDON
HUGO BOSS UK LTD.
Learning & Development Partner (Corporate)
Permanent · LONDON
HUGO BOSS UK LTD.
Project Coordinator
Permanent · LONDON
GANT
Brand Consultant - Part Time - Gant John Lewis Cribbs
Permanent · PATCHWAY
L'OREAL GROUP
Business Category Manager
Permanent · London
L'OREAL GROUP
Lancôme Deputy Business Manager, 1.0, John Lewis, Oxford Street (Ftc)
Permanent · London
L'OREAL GROUP
Senior Visual Merchandising Manager - l'Oreal Paris - Cpd
Permanent · London
L'OREAL GROUP
Advocacy Brand Manager - Cpd
Permanent · London
L'OREAL GROUP
Warehouse Team Leader - am / pm
Permanent · Manchester
L'OREAL GROUP
Corporate Finance Director (Contract)
Permanent · London
L'OREAL GROUP
Senior Brand Manager – Ldb
Permanent · London
TK MAXX
Loss Prevention Officer (Door Marshall) - Ayr - Full-Time/Permanent
Permanent · Ayr
HOMESENSE
Loss Prevention Officer - Full Time 37.5 Hours - Homesense Watford
Permanent · Grand Londres
ABERCROMBIE AND FITCH STORES
Abercrombie & Fitch - Graduate Manager in Training, Ashford Designer Outlet
Permanent · Ashford
STELLA MCCARTNEY
Junior Art Director
Permanent · LONDON
MULBERRY
Global vm Manager
Permanent · LONDON
SELFRIDGES
Pat Mcgrath Business Manager
Permanent · MANCHESTER
By
Reuters
Published
Mar 6, 2014
Reading time
2 minutes
Share
Download
Download the article
Print
Click here to print
Text size
aA+ aA-

John Lewis pays staff 15 percent bonus as profits rise

By
Reuters
Published
Mar 6, 2014

LONDON, England - British retailer, the John Lewis Partnership, posted a 9.6 percent rise in underlying year profit, though it cut its staff bonus payout to 15 percent of salary.

Charlie Mayfield, chairman of the employee-owned group, which runs Britain's biggest department store chain as well as upmarket grocer Waitrose, said on Thursday that although there were more encouraging signs for the UK economy as a whole, they had not yet resulted in a significant increase in consumer spending.



"I am cautiously optimistic that we will see improvements this year," he said, adding that John Lewis and Waitrose were well placed to continue to grow market share.

The group made profit before tax, a staff bonus pool of 202.5 million pounds ($338.8 million) and one-off items of 376.4 million pounds in the year to January 25, on gross sales of 10.2 billion pounds, up 6.6 percent.

John Lewis said its 91,000 staff, known as partners, will be paid a bonus of 15 percent of salary, equal to nearly eight weeks pay, down from 17 percent last year.

The 150-year-old group, whose worker co-ownership business model has been lauded by Prime Minister David Cameron, has consistently bucked retail gloom, winning market share over the last five years.

Its generally more affluent customers were less impacted by the economic downturn and it has a bias to the more prosperous south east of England. A big push online, improvements to stores, products, service, promotions and marketing, have also chimed with shoppers.

John Lewis ended the year with net debt of 485.8 million pounds, up 30.6 percent, and a pension deficit of just over 1 billion pounds, up 22.1 percent.

© Thomson Reuters 2023 All rights reserved.