John Lewis workers just might be in for a bonus again as losses narrow

Workers at department store and Waitrose owner John Lewis have had to do without a cherished bonus for three of the past four years but is that about to change?

A bonus for John Lewis staff could be back on - after the high street slashed its losses.

The department store and Waitrose supermarket owner still lost £30million in the six months to the end of July. But that was down sharply from £59m the same time last year.

The second half of the year is the most important for John Lewis, along with all retailers. Analyst Nick Bubb yesterday forecast the John Lewis Partnership could make a full-year profit of £125m, a big improvement on the £42m profit last year. If so, it could pave the way for the worker-owned group to reinstate its staff bonus.

The payout has been axed for three of the past four years, as the firm suffered losses or redirected the money into investment. Nish Kankiwala, chief executive of the Partnership, refused to be drawn, saying it would not be decided until March.

It comes as ex-Tesco bigwig Jason Tarry is due to start as chair on Monday, taking over from Dame Sharon White. Group half-year sales grew sales 2% to £5.9billion, with a 5% increase a Waitrose offsetting a 3% fall at its department stores.

Kankiwala said: “These results confirm that our transformation plan is working.”