John Lewiss 70,000 staff share �151m bonus

By Harry Wallop, Consumer Affairs Editor 1154AM GMT eleven March 2010

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John Lewis"s 70,000 staff are to share �151m reward pot after a burst in profits.

The reward is homogeneous to fifteen per cent of their annual salary, or scarcely 8 weeks" salary. The reward announcement, the majority expected eventuality in the John Lewis calendar, was improved than expected, and up from thirteen per cent the year before.

The 600 staff collected at the flagship bend on Oxford Street cheered loudly when the pouch was non-stop with majority staff observant they were agreeably surprised, deliberation how bad trade was during the early months of 2009.

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Andy Street, the handling executive of the group, station in the war paint dialect between the mob of staff, pronounced "The greeting of everybody here speaks for itself. If you had asked everybody a year ago what they thought this year"s reward would have been you would have got a really gaunt set of answers."

Mr Street pronounced he was deliberation spending his reward on a painting, whilst majority staff pronounced the additional income would go towards a legal holiday or profitable off credit label debt.

Profits prior to taxation and bonuses at the company, that owns twenty-eight dialect stores, 224 Waitrose supermarkets and an online business, rose 9.7 per cent to �307m in the year to Jan 30.

John Lewis pronounced the year was one of "profound change" for the group, with the enlargement of the Waitrose sequence and a volatile opening at the dialect stores.

Waitrose was the star performer, with handling increase prior to skill gains up 26.8 per cent to �268m on turnover up 9 per cent to �4.5bn.

Much of the supermarket"s success after a difficult duration when it lost marketplace share to Tesco, Asda and even Aldi, was down to the Essential range of cheaper-priced goods. The association pronounced that it had up to 400,000 some-more people selling each week at Waitrose than last year. It has additionally benefited from twenty-five new shops

Operating distinction at John Lewis" dialect stores rose fifteen per cent to �165.9m

After first-half distinction fell 19.6pc, the partnership achieved strongly over Yuletide and during the initial couple of months of the year. Total sales rose 6.5pc to �7.4bn.

However, the 146-year-old employee-owned group, pronounced it expected some-more severe trade conditions in 2010, quite in the second half, with Mr Street indicating out that the taxation rises due to come in to forced subsequent month would strike John Lewis business disproportionately hard.

For the initial five weeks of the new monetary year sum sales were 13.5 per cent higher, with dialect store sales up 17.5 per cent and Waitrose up 11.3 per cent.