UK: John Lewis reports 22% FY profit surge
UK department store chain John Lewis has reported higher full-year profits, attributed to value, multi-channel growth and new formats.
John Lewis' fashion category sales increased by 14.7% during the period, a statement said.
The company also awarded its partnership workers a bonus of 18% of salary.
Reporting the annual period to 29 January, John Lewis cited "strong outperformance" by its online store.
"The Partnership has clearly established itself as a leader in multi-channel retailing," said Charlie Mayfield, chairman of John Lewis Partnership. "Looking to the future, while we expect more difficult conditions for much of the year, we are confident of our plans. We have not yet seen inflation coming through at the levels reported and we remain committed to improving value for our customers in the year ahead."
Click here to view the company's annual results in full.
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