The John Lewis Partnership, home to Waitrose and John Lewis, 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% from £56m to £97m. Partnership sales were £12.8bn, up 3% year-on-year and operating profit margin increased 0.9 percentage points to 2.0% as the businesses focus on productivity showed benefits.
The brand also added 2% more customer, and there were growths in loyalty schemes, with My Waitrose up 7% to 4.6m active members and My John Lewis up 11% to 3.7m.
Investments in the business were up by a third over 2023/24 and it intends to step up its transformation plan in the year ahead, backed by planned self-funded investment of £600m. which will be spent in improving the customer experience through store refurbishments and openings, technology upgrades and supply chain modernisation.
While profits and sales are up the company has yet again decided not to award a Partnership Bonus this year. However to reward partners it will be increasing overall pay by £114m in 2025, building on a £116m increase in 2024.
The John Lewis Partnership, home to Waitrose and John Lewis, 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% from £56m to £97m. Partnership sales were £12.8bn, up 3% year-on-year and operating profit margin increased 0.9 percentage points to 2.0% as the businesses focus on productivity showed benefits.
The brand also added 2% more customer, and there were growths in loyalty schemes, with My Waitrose up 7% to 4.6m active members and My John Lewis up 11% to 3.7m.
Investments in the business were up by a third over 2023/24 and it intends to step up its transformation plan in the year ahead, backed by planned self-funded investment of £600m. which will be spent in improving the customer experience through store refurbishments and openings, technology upgrades and supply chain modernisation.
While profits and sales are up the company has yet again decided not to award a Partnership Bonus this year. However to reward partners it will be increasing overall pay by £114m in 2025, building on a £116m increase in 2024.
