One of the UK’s most followed retail behemoths, John Lewis Partnership (JLP), recently released its annual results, which included a return to earnings.
Profit before taxes and special items for the 52 weeks ending in late January was £ 42 million, a significant increase over the $ 78 million deficit for the same period last year. Profit before taxes, excluding one-time items, came in at £ 56 million, which was £ 290 million more than the previous year.
Partnership sales were £12.4 billion during the year, up just 1% from the previous year, but the growth in operating profit margins by 1.2 percentage points was also essential to the company’s profitability.
According to the corporation, a million additional users made purchases through it in the year, bringing the total to 22.6 million. Net cash generated from operational activities more than doubled to £ 433 million, which was positive news on the financial front as well. Additionally, it now has £ 1.7 billion in total liquidity, which allows it the financial freedom to finance its own transformation. The company claims that the increased performance would enable it to increase investment at a faster rate. This year, it plans to spend £542 million, up from £312 million in 2023–2024.
