Price-Wizard Shopping News:
Record Profits for John LewisThe John Lewis retail group today announced record profits of £319m in the year to January 2007, with the the group's internet and catalogue operation, seeing an increase in sales of 64pc, up from £72m to £185m. The group's performance was described by chairman Sir Stuart Hampson as "simply stunning."
The John Lewis department store business enjoyed a sales increase of 11pc to £2.7bn, while sales at Waitrose topped £3.7bn. John Lewis group sales increased by 11pc to £6.4bn.
The company, which is an employee-owned partnership, also announced a 29pc increase in its bonus payment, which will not only see its partners receive an increased bonus, but also staff working on the shop floor, who will typically receive over £2,000 each.
Sir Stuart said both divisions (internet and catalogue / department stores) had each made an encouraging start to the new trading year, with sales at John Lewis increasing by 7pc in the past five weeks, and Waitrose like-for-like sales up by 4pc.
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