John Lewis employees share out £120m bonus

Employees at John Lewis are to receive a £120m bonus after the retailer outperformed most of its high-street rivals last year.

The payout, equivalent to almost eight weeks’ pay, will be shared by the group’s 64,000 employees or “partners”, who in effect own the 27 department stores and 174 Waitrose supermarkets.

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It comes in the wake of a 10% rise in pre-tax profits last year, to £252m,

But Charlie Mayfield, managing director of the department stores, said: “Things that made life difficult last year are still here this year.”