The John Lewis Partnership has scrapped its staff bonus for the third year in a row despite a near-tripling in profit. The company, which owns both John Lewis and Waitrose, told markets this morning that profit before tax increased from £42m to £126m over the 52 weeks to 25 January.

Outgoing CEO Nish Kankiwala, whose role is being taken over by Mr Tarry, said: "Tripling our profit is a significant testament to the progress of our transformation - focused on delighting customers while continuing to deliver efficiency improvements, thereby laying the foundations for long-term sustainable growth.”

John Lewis Partnership has said it will not pay a staff bonus for the third year in a row despite seeing a sizeable upturn in profit. The employee-owned business, which runs the department store chain and Waitrose supermarket arm, posted a 73 per cent jump in pre-tax profits to £97million for the year to 25 January.

The John Lewis Partnership has seen its full year profit triple as its ongoing transformation delivered "solid progress". In the year to 25 January 2025, pre-tax profit before exceptional items surged to £126 million from £42 million in the prior year.

John Lewis Partnership staff could miss out on their bonuses for another year despite analysts predicting the department store chain’s profits have tripled.

John Lewis Partnership has decided not to pay staff an annual bonus despite profits rising threefold on the back of investment in the business.

UK retailer John Lewis Partnership said it would accelerate investment this year as it reported a trebling in annual profit, driven by an improvement in its food business, and forecast more growth as its turnaround plan gains momentum.

John Lewis Partnership has tripled its profits to £126m but staff at the employee-owned group have missed out on a bonus once again.

Retailer John Lewis has said its staff will not receive a bonus for the third year in a row, despite reporting a jump in annual profits. The employee-owned retail partnership, which also includes the Waitrose supermarket chain,

The John Lewis Partnership (JLP), parent company of Waitrose and John Lewis, has reported that its profit before tax and exceptional items has increased threefold, rising to £126m ($163.12m) from £42m during the fiscal year 2024/2025.