John Lewis Partnership, which operates 48 outlets across the UK, has noted an increase of 3.2 per cent in gross sales for the year ended January 28, 2017. The company noted 1.9 per cent increase in profit in spite of trading pressures and investment in pay.
“Waitrose and John Lewis have achieved growth in sales and market share, and the company’s profits before exceptional are up 21.2 per cent. A large part of this profit increase was due to lower pension accounting charges,” reads a statement issued by the company.
The company noted a number of exceptional items in its results this year, which reflect the steps taken to adapt the Partnership for the future. After including these exceptional items, the operating profit in both Waitrose and John Lewis was below last year.
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“We will also be accelerating investment in innovation for customers across Waitrose and John Lewis. For example, from May we will begin rolling out technology to ensure Partners have access to more information at their fingertips to enhance service delivery and, in Waitrose, 2017 will see a significant investment in existing shops,” said an official.
