John Lewis axes staff bonus after racking up first-half loss

Dame Sharon White

Department stores and grocery business John Lewis Partnership has posted a first-half loss and told staff they will not receive a bonus this year.

The retailer made an interim loss of £55m, similar to that suffered in the comparable period last year. Chair Dame Sharon White said trading at both John Lewis and Waitrose had been “encouraging” in the second half so far but the board had decided there could be no bonus when profits were under such pressure. She had already warned of that likelihood.

At John Lewis department stores, total trading sales - reflecting full customer sales value, including VAT and before adjustments for sale or return sales and other accounting adjustments - fell 9.7% to £1.86bn and like for likes were down 9.5%. At Waitrose trading sales climbed 7.6% to £3.7bn and like for likes were up 9.6%. 

Subscription content

Please sign in now if you have a subscription or are already registered with us.

Retail Week

Register for free to continue reading

Retail-Week.com provides premium, in-depth intelligence that helps retailers judge risks, spot opportunities and identify what they need to do to win in the digital economy.

Register today for a taste of our high-quality intelligence and enjoy:

  • Two free article views per calendar month on Retail-Week.com
  • Detailed analysis of current trends and events 
  • Exclusive newsletters
  • In-depth reports, videos, interviews and much more

Discover Retail Week register now

Please note, if you have recently purchased a subscription, it may take a few minutes before your account is updated.