John Lewis announces £151.3m staff bonus

John-LewisThe UK's biggest department store operator, John Lewis Partnership, which witnessed a 9.7 per cent growth in its profit before tax for the last financial year, has announced £151.3 million bonus for its staffs. The company's pre-tax profit for the period remained at £306.6 million.

The amount stands for almost 15 per cent or close to eight week's salary of the staff, called partners. As per the Charlie Mayfield, the Chairman of the company, nearly 70,000 partners would receive the benefit.

Praising the partners Charlie said that they have shown a great commitment when it was a real tough time for the company. As per him the group has "emerged powerfully" from the global financial turmoil.

He further enunciated that the group's sells since the beginning of the current fiscal on January 31 has registered a tremendous 13.5 per cent growth over the year-ago period. Like-for-like sales (stores with same trading format for more than 12 months) of John Lewis have shot up by 14.9 per cent.

As per the company opening of new stores like specialist store 'John Lewis at Home' and addition of innovative concepts have helped it grow its business.

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