John Lewis is a chain of department stores in the UK which, alongside grocery stablemate Waitrose, forms the employee-owned John Lewis Partnership. John Lewis was formed in 1846 when its eponymous founder opened a drapery shop on Oxford Street. John Spedan Lewis created the “never knowingly undersold” pledge in 1925 and made early moves to establish the partnership business model. Retail Week provides news, analysis, features and opinion about John Lewis and the department stores sector.
After a big increase in annual earnings, the mood music at John Lewis Partnership is upbeat as it presses on with a turnaround on the back of improved profitability, productivity and cash generation
The John Lewis Partnership’s profits have tripled which it says is a ”significant testament” to its ongoing transformation strategy.
John Lewis and Waitrose staff have missed out on a bonus once again, despite the retail business seeing a 73% rise in profit before tax.
The John Lewis Partnership is to significantly increase staff pay from next month.
John Lewis Partnership has announced it has enrolled over 5,000 apprentices since 2017, while Amazon is taking on 1,000 new apprentices in the UK in 2025.
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