John Lewis Partnership staff are expected to receive around 14% of their annual salary as a bonus as the retailer reveals strong full-year profits.
The increase is expected to have come about from a surge over the second half of 2009, and will be enough to earn its 70,000 staff a payout equivalent to almost eight weeks’ pay.
The partnership is owned by its employees, who all share in the bonus pot. Last year the percentage was 13% and the year before it was 20%.
The figure will be revealed simultaneously at 9.30am on Thursday in all John Lewis and Waitrose stores when a member of staff opens an envelope containing the number.
Arden Partners analyst Nick Bubb expects John Lewis to record an EBIT of £168m, up from £144m last year. Waitrose is expected to make EBIT of £268m, up from £212m last year.
John Lewis Partnership has been one of the few winners in the recession. Grocer Waitrose is has been performing particularly well, and its managing director Mark Price won the coveted Leader of the Year award at the Oracle Retail Week Awards last week.