John Lewis Partnership Returns to Profit but Foregoes Staff Bonus Again

The company emphasizes investment in pay raises and business development amid economic challenges.

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.