The John Lewis Partnership would likely pay out a bonus again for the first time in four years if it meets a minimum profit level, staff have been told.
The partnership, which owns Waitrose and John Lewis, would restore its famous bonus if it generates profits of at least £200m, the Financial Times reported.
If that level of earnings was reached, “we would recommend to the board that we pay a bonus”, the retailer said in an internal update.
The partnership, which is owned by its 69,000 employees, said it was “aiming to make over £200mn profit” for the year ending January 2026. It said “to get there, we need to keep focused on the right things and deliver our plans”.
The return of the bonus would be a big moment for the retailer, which has been conducting a turnaround over the last few years and is now chaired by former Tesco UK boss Jason Tarry.
In the last financial year, pre-tax profits at the partnership were £97m − an increase on the £56m generated the previous year. The measure that the JLP board typically uses to make a decision on the bonus, profit before tax and exceptional items, was £126m.
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