Mar 10, 2022
John Lewis restores bonus as department store sales surge
John Lewis has restored its staff bonus after sales at its department stores bounced back in 2021.The retailer had to scrap payouts last year for the first time since 1953 after the pandemic hammered its shops and caused heavy losses. Dame Sharon White, boss of John Lewis Partnership said the group had made a "Good start" to a tough five-year restructuring plan but added it was "Only one year through". The last time John Lewis had not paid a bonus was in the aftermath of World War Two.It suspended payouts last year after posting a huge £635m pre-tax loss for the six months to 25 July, caused primarily by lockdown store closures. Since then the group has been trying to bolster it business by investing more in John Lewis shops and online shopping, and cutting costs elsewhere. John Lewis said it was becoming less relevant as shopping moved increasingly online.
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