John Lewis Partnership to hand staff bonus for first time in four years

Russ Mould, investment director at AJ Bell, said: “Storied UK retailer John Lewis has been battered and bruised for most of this decade as it suffered the impact of Covid and a tricky consumer backdrop coming out of the pandemic.

“The return of staff bonuses after four years – as the business once again turns out a profit – feels like a milestone in its recovery.

“A return for the ‘never knowingly undersold’ pledge has been key as chair Jason Tarry, who formerly headed up Tesco’s UK and Ireland business, has looked to put the focus back on John Lewis’ longstanding strengths as a retail entity.

“John Lewis has invested in its stores to secure their place as attractive destinations for shoppers and partnered up with key brands to help get more people through the doors.

“The bit extra in staff pay packets will be especially welcome given the John Lewis workforce, like many others, faces the prospect of another hit to their pockets from the latest energy market shock.”