From The BBC:
Staff at John Lewis will share a £151m bonus after the retail group saw annual pre-tax profits rise 9.7% to £306.6m.The owner of the Waitrose supermarket chain said the bonus amounted to about eight weeks’ salary for each employee. John Lewis chairman Charlie Mayfield said the company emerged from recession “in a stronger competitive position”, but he warned that 2010 would be tough. John Lewis said gross sales rose 6.5% to £7.4bn as it continued to take market share from rivals. The company’s 70,000 staff – or partners, as John Lewis calls them – will share a bonus pot of £151.3m, equivalent to about 15% of their salary. “Today’s results reflect the collective hard work of our partners,” Mr Mayfield said. John Lewis’s co-ownership model, “while not a universal panacea clearly underpins the partnership’s performance”, he said. John Lewis, whose operations include 28 department stores and 225 Waitrose supermarkets, saw profits fall in the first half of the year….
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