John Lewis Partnership has reported a significant improvement in financial performance for the full year 2024/25 as profit before tax and exceptional items tripled from £42m to £126m.
Profit before tax increased by 73 per cent from £56m to £97m. Partnership group sales were £12.8bn, up 3 per cent year-on-year, with Waitorse delivering a 4.4. per cent increase in sales totalling £8bn.
Jason Tarry, Chairman of the John Lewis Partnership, said: “These are solid results, which show that our customers are responding well to our investments in quality products, value and service. We have made good progress with much more still to do. “Looking forward, I see significant opportunity for growth from both our Waitrose and John Lewis brands. Our focus will be on enhancing what makes these brands truly special for our customers. This will involve considerable catch-up investment in our stores and supply chain, underpinned by a strong focus on the core elements of great retail, delivered by our brilliant Partners.”
Despite the positive results, staff will not receive a bonus. This has been attributed to the recent increase in base pay and the ongoing challenging macroeconomic environment.
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