John Lewis staff celebrate bonus pay outs

Staff at John Lewis in Southampton celebrate bonus pay outs

Staff at John Lewis in Southampton celebrate bonus pay outs

First published in News
Last updated

The John Lewis Partnership has announced a staff windfall worth 15% of salary from a bonus pot of £202.5 million - down from 17% of salary last year.

Bottom-line profits were 4.1% lower at £329.1 million after the group had to pay £47.3 million in back pay to around 69,000 staff last summer after discovering it miscalculated holiday pay dating back to 2006, leaving some workers entitled to thousands of pounds in compensation.

Its results also lay bare the escalating cost of its workers' pensions, with John Lewis seeing a £181.3 million, or 22.1%, leap in the scheme's funding shortfall.

The group has agreed a 10-year plan to plug the deficit that included a one-off payment of £85 million in January.

John Lewis, whoich ha\s a flagship store at WestQuay in Southampton revealed proposals last month to cut back its final salary pension scheme, which is one of the most generous in Britain, with plans to switch to a hybrid defined benefit and defined contribution scheme.

But sales figures highlight ''another good year'' for the group, according to Mr Mayfield.

Revenues surpassed the £10 billion milestone for the first time - up 6.6% to £10.2 billion - and like-for-like sales increased by 6.4% across John Lewis department stores and by 5.1% at Waitrose.

The group emerged as one of the retail winners over a highly competitive Christmas season, with John Lewis's like-for-like sales up 6.9% and Waitrose reporting a 3.1% rise.

And it said the new year had started well, with comparable store sales 5.3% higher at John Lewis and 3.7% up at Waitrose in the first five weeks.

Mr Mayfield said the group had needed to adapt quickly to ''fundamental changes'' in the industry, with shoppers demanding better value, convenience and personalisation.

''The level of change has at times been challenging, but partners have understood and embraced the need for their business to continue to develop,'' he said.

Comments (15)

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11:28am Thu 6 Mar 14

camerajuan says...

Every retailer should offer this annual bonus! Its ridiculous how many massive ones don't.

Boots staff get a weeks pay the week before Christmas. Boots are in a position to pay their staff WAY better in bonuses and in annual salary.
Every retailer should offer this annual bonus! Its ridiculous how many massive ones don't. Boots staff get a weeks pay the week before Christmas. Boots are in a position to pay their staff WAY better in bonuses and in annual salary. camerajuan
  • Score: 4

11:40am Thu 6 Mar 14

SilvanDryad says...

The JL staff are partners in the business. If Boots staff want to get more money from the profits they need to buy shares.
The JL staff are partners in the business. If Boots staff want to get more money from the profits they need to buy shares. SilvanDryad
  • Score: 5

12:08pm Thu 6 Mar 14

camerajuan says...

SilvanDryad wrote:
The JL staff are partners in the business. If Boots staff want to get more money from the profits they need to buy shares.
Some do have shares but no annual bonus like this.

I personally know 4 staff at the West Quay JL and several others who work for the Waitrose Group across Hampshire and none of them have bought shares.
[quote][p][bold]SilvanDryad[/bold] wrote: The JL staff are partners in the business. If Boots staff want to get more money from the profits they need to buy shares.[/p][/quote]Some do have shares but no annual bonus like this. I personally know 4 staff at the West Quay JL and several others who work for the Waitrose Group across Hampshire and none of them have bought shares. camerajuan
  • Score: 4

12:14pm Thu 6 Mar 14

bluecougar says...

Such a shame that their recruitment process is now online, I would love to work for my local Waitrose or JL in Southampton but with a standardised questionnaire that you have to fill in for vacancies doesn't allow for them meeting you in person this is what used to happen when you sent in a C.V. - you got to see the Manager etc who wouldn't base everything on qualifications more on who you are as a person but now they all want graduates who don't stay, my local Waitrose employs more older staff because the youngsters don't want to work in retail.
Such a shame that their recruitment process is now online, I would love to work for my local Waitrose or JL in Southampton but with a standardised questionnaire that you have to fill in for vacancies doesn't allow for them meeting you in person this is what used to happen when you sent in a C.V. - you got to see the Manager etc who wouldn't base everything on qualifications more on who you are as a person but now they all want graduates who don't stay, my local Waitrose employs more older staff because the youngsters don't want to work in retail. bluecougar
  • Score: 5

12:41pm Thu 6 Mar 14

NewForestStu says...

camerajuan wrote:
SilvanDryad wrote: The JL staff are partners in the business. If Boots staff want to get more money from the profits they need to buy shares.
Some do have shares but no annual bonus like this. I personally know 4 staff at the West Quay JL and several others who work for the Waitrose Group across Hampshire and none of them have bought shares.
I think you might be confusing things perhaps? JL staff cannot purchase shares as such in the company as Waitrose and the parent company John Lewis are not a PLC. Basically the employees in effect are the shareholders if you wish to use that term. Boots being a PLC you would have to buy shares even though the shareholders (if asked) could agree to pay Boots staff a payout dependant on profits (not likely to happen though i wouldnt have thought as this affects the shareholders divi)
[quote][p][bold]camerajuan[/bold] wrote: [quote][p][bold]SilvanDryad[/bold] wrote: The JL staff are partners in the business. If Boots staff want to get more money from the profits they need to buy shares.[/p][/quote]Some do have shares but no annual bonus like this. I personally know 4 staff at the West Quay JL and several others who work for the Waitrose Group across Hampshire and none of them have bought shares.[/p][/quote]I think you might be confusing things perhaps? JL staff cannot purchase shares as such in the company as Waitrose and the parent company John Lewis are not a PLC. Basically the employees in effect are the shareholders if you wish to use that term. Boots being a PLC you would have to buy shares even though the shareholders (if asked) could agree to pay Boots staff a payout dependant on profits (not likely to happen though i wouldnt have thought as this affects the shareholders divi) NewForestStu
  • Score: 4

12:46pm Thu 6 Mar 14

gilbertratchet says...

camerajuan wrote:
Every retailer should offer this annual bonus! Its ridiculous how many massive ones don't.

Boots staff get a weeks pay the week before Christmas. Boots are in a position to pay their staff WAY better in bonuses and in annual salary.
You're in a position to give me £100. Why don't you?

It isn't really our place to dictate what others do with their money.
[quote][p][bold]camerajuan[/bold] wrote: Every retailer should offer this annual bonus! Its ridiculous how many massive ones don't. Boots staff get a weeks pay the week before Christmas. Boots are in a position to pay their staff WAY better in bonuses and in annual salary.[/p][/quote]You're in a position to give me £100. Why don't you? It isn't really our place to dictate what others do with their money. gilbertratchet
  • Score: 1

1:16pm Thu 6 Mar 14

camerajuan says...

gilbertratchet wrote:
camerajuan wrote:
Every retailer should offer this annual bonus! Its ridiculous how many massive ones don't.

Boots staff get a weeks pay the week before Christmas. Boots are in a position to pay their staff WAY better in bonuses and in annual salary.
You're in a position to give me £100. Why don't you?

It isn't really our place to dictate what others do with their money.
I'm not in anywhere near that position sorry gilbert.

I'm not dictating, I'm stating my opinion. Idi Amin was a dictator.
[quote][p][bold]gilbertratchet[/bold] wrote: [quote][p][bold]camerajuan[/bold] wrote: Every retailer should offer this annual bonus! Its ridiculous how many massive ones don't. Boots staff get a weeks pay the week before Christmas. Boots are in a position to pay their staff WAY better in bonuses and in annual salary.[/p][/quote]You're in a position to give me £100. Why don't you? It isn't really our place to dictate what others do with their money.[/p][/quote]I'm not in anywhere near that position sorry gilbert. I'm not dictating, I'm stating my opinion. Idi Amin was a dictator. camerajuan
  • Score: 1

6:57pm Thu 6 Mar 14

Torchie1 says...

camerajuan wrote:
gilbertratchet wrote:
camerajuan wrote:
Every retailer should offer this annual bonus! Its ridiculous how many massive ones don't.

Boots staff get a weeks pay the week before Christmas. Boots are in a position to pay their staff WAY better in bonuses and in annual salary.
You're in a position to give me £100. Why don't you?

It isn't really our place to dictate what others do with their money.
I'm not in anywhere near that position sorry gilbert.

I'm not dictating, I'm stating my opinion. Idi Amin was a dictator.
All of your imaginary friends in John Lewis? I smell something here.
[quote][p][bold]camerajuan[/bold] wrote: [quote][p][bold]gilbertratchet[/bold] wrote: [quote][p][bold]camerajuan[/bold] wrote: Every retailer should offer this annual bonus! Its ridiculous how many massive ones don't. Boots staff get a weeks pay the week before Christmas. Boots are in a position to pay their staff WAY better in bonuses and in annual salary.[/p][/quote]You're in a position to give me £100. Why don't you? It isn't really our place to dictate what others do with their money.[/p][/quote]I'm not in anywhere near that position sorry gilbert. I'm not dictating, I'm stating my opinion. Idi Amin was a dictator.[/p][/quote]All of your imaginary friends in John Lewis? I smell something here. Torchie1
  • Score: 1

8:41pm Thu 6 Mar 14

Maine Lobster says...

Congratulations to all these staff. Working in retail is hard,long and anti-social hours. Paying the bonus is well deserved for the profits made and the success of their business. Unlike the banks of course who continue to pay obscene bonuses for failing!
Congratulations to all these staff. Working in retail is hard,long and anti-social hours. Paying the bonus is well deserved for the profits made and the success of their business. Unlike the banks of course who continue to pay obscene bonuses for failing! Maine Lobster
  • Score: 1

9:44pm Thu 6 Mar 14

derek james says...

no doubt good news for staff but you can see where the money comes from in their prices, i don't buy anything in either stlores
no doubt good news for staff but you can see where the money comes from in their prices, i don't buy anything in either stlores derek james
  • Score: -3

10:03pm Thu 6 Mar 14

miltonarcher says...

derek james wrote:
no doubt good news for staff but you can see where the money comes from in their prices, i don't buy anything in either stlores
They price match other supermarkets. Check it out you might be pleasantly surprised. Unless you are a pound shop man of course.
[quote][p][bold]derek james[/bold] wrote: no doubt good news for staff but you can see where the money comes from in their prices, i don't buy anything in either stlores[/p][/quote]They price match other supermarkets. Check it out you might be pleasantly surprised. Unless you are a pound shop man of course. miltonarcher
  • Score: 4

10:30pm Thu 6 Mar 14

The Mad Dog says...

Good luck to the JLP staff, they work hard for the company they effectively own.
Others, who work for a PLC can usually join a 'share save scheme'. In my view and experience it is something well worth doing. Those who have the opportunity and choose not too join have no room to then moan about shareholders bonuses. They had their chance and they blew it. It is not about cost either, most of these schemes allow for a minimum amount taken from your salary each month and start at £10.
Good luck to the JLP staff, they work hard for the company they effectively own. Others, who work for a PLC can usually join a 'share save scheme'. In my view and experience it is something well worth doing. Those who have the opportunity and choose not too join have no room to then moan about shareholders bonuses. They had their chance and they blew it. It is not about cost either, most of these schemes allow for a minimum amount taken from your salary each month and start at £10. The Mad Dog
  • Score: 2

8:51am Fri 7 Mar 14

camerajuan says...

Torchie1 wrote:
camerajuan wrote:
gilbertratchet wrote:
camerajuan wrote:
Every retailer should offer this annual bonus! Its ridiculous how many massive ones don't.

Boots staff get a weeks pay the week before Christmas. Boots are in a position to pay their staff WAY better in bonuses and in annual salary.
You're in a position to give me £100. Why don't you?

It isn't really our place to dictate what others do with their money.
I'm not in anywhere near that position sorry gilbert.

I'm not dictating, I'm stating my opinion. Idi Amin was a dictator.
All of your imaginary friends in John Lewis? I smell something here.
Relevant and mature Torchie.

Did Mummy pack your lunch properly this morning?
[quote][p][bold]Torchie1[/bold] wrote: [quote][p][bold]camerajuan[/bold] wrote: [quote][p][bold]gilbertratchet[/bold] wrote: [quote][p][bold]camerajuan[/bold] wrote: Every retailer should offer this annual bonus! Its ridiculous how many massive ones don't. Boots staff get a weeks pay the week before Christmas. Boots are in a position to pay their staff WAY better in bonuses and in annual salary.[/p][/quote]You're in a position to give me £100. Why don't you? It isn't really our place to dictate what others do with their money.[/p][/quote]I'm not in anywhere near that position sorry gilbert. I'm not dictating, I'm stating my opinion. Idi Amin was a dictator.[/p][/quote]All of your imaginary friends in John Lewis? I smell something here.[/p][/quote]Relevant and mature Torchie. Did Mummy pack your lunch properly this morning? camerajuan
  • Score: -1

10:32am Fri 7 Mar 14

gilbertratchet says...

camerajuan wrote:
gilbertratchet wrote:
camerajuan wrote:
Every retailer should offer this annual bonus! Its ridiculous how many massive ones don't.

Boots staff get a weeks pay the week before Christmas. Boots are in a position to pay their staff WAY better in bonuses and in annual salary.
You're in a position to give me £100. Why don't you?

It isn't really our place to dictate what others do with their money.
I'm not in anywhere near that position sorry gilbert.

I'm not dictating, I'm stating my opinion. Idi Amin was a dictator.
You said "every retailer should offer this annual bonus". You can hide behind semantics all you like, fact is, you believe people should be forced to act a certain way, whether they want to or not.

You don't need to be a "dictator" to dictate things.
[quote][p][bold]camerajuan[/bold] wrote: [quote][p][bold]gilbertratchet[/bold] wrote: [quote][p][bold]camerajuan[/bold] wrote: Every retailer should offer this annual bonus! Its ridiculous how many massive ones don't. Boots staff get a weeks pay the week before Christmas. Boots are in a position to pay their staff WAY better in bonuses and in annual salary.[/p][/quote]You're in a position to give me £100. Why don't you? It isn't really our place to dictate what others do with their money.[/p][/quote]I'm not in anywhere near that position sorry gilbert. I'm not dictating, I'm stating my opinion. Idi Amin was a dictator.[/p][/quote]You said "every retailer should offer this annual bonus". You can hide behind semantics all you like, fact is, you believe people should be forced to act a certain way, whether they want to or not. You don't need to be a "dictator" to dictate things. gilbertratchet
  • Score: 1

1:01pm Fri 7 Mar 14

waltons11 says...

miltonarcher wrote:
derek james wrote: no doubt good news for staff but you can see where the money comes from in their prices, i don't buy anything in either stlores
They price match other supermarkets. Check it out you might be pleasantly surprised. Unless you are a pound shop man of course.
Nothing wrong with Poundland in my humble opinion. I did used to work for John Lewis and the staff do really need this bonus as the wages are so low. When I left I had got another job, similar role and was paid £2k more per year (20 years ago), so no contest really.
[quote][p][bold]miltonarcher[/bold] wrote: [quote][p][bold]derek james[/bold] wrote: no doubt good news for staff but you can see where the money comes from in their prices, i don't buy anything in either stlores[/p][/quote]They price match other supermarkets. Check it out you might be pleasantly surprised. Unless you are a pound shop man of course.[/p][/quote]Nothing wrong with Poundland in my humble opinion. I did used to work for John Lewis and the staff do really need this bonus as the wages are so low. When I left I had got another job, similar role and was paid £2k more per year (20 years ago), so no contest really. waltons11
  • Score: 0

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