JOHN Lewis will hand its staff a 15 per cent bonus after reporting a surge in annual profits.
The staff-owned retailer made a profit before the employee bonus and tax of £306.6m in the year to the end of January – up from £279.6m in the previous year.
It owns 28 department stores, one John Lewis “at home” store, 224 Waitrose supermarkets and an internet business.
The partnership bonus, equivalent to eight weeks pay, totalled £151.3m.
Operating profit at John Lewis' department stores rose 15 per cent to £165.9m. At Waitrose, the UK’s fastest growing grocer, it jumped 27 per cent to £268.2m, after the popularity of its essentials range helped to boost its fortunes despite the recession.