Overview

• John Lewis Partnership reports a return to profit, with a £42 million pre-tax profit, but announces no staff bonus for the third year in four.
• CEO Nish Kankiwala emphasizes the need for stability from the next government to foster consumer confidence and drive economic growth.
• The company plans significant investments in pay raises and business development, with a focus on retail and simplifying operations.
• Possible job cuts loom as the company seeks to cut costs further, despite a lack of formal targets for workforce reductions.
• John Lewis and Waitrose to remain part of the same group, with investments planned in technology, shop refurbishments, and online offerings.