John Lewis the retail giant which is at the heart of many an Edinburgh home has announced its full year profits today. The store is owned by its employees who will all get an 11% bonus as a result of today’s good news of joint profits in John Lewis and Waitrose of just under £500m. In Edinburgh we have not only the John Lewis at St James Centre which will remain in place despite the large scale development proposals for the area, but also two Waitrose stores in Stockbridge and Morningside.
The 93,800 Partners will receive a bonus of 11%, equivalent to nearly 6 weeks’ pay. And for the first time in 15 years, as a result of the new legislation that puts Employee Ownership on a similar footing to other forms of ownership, no Partner will pay tax on their Bonus up to £3,600.
Barry Blamire, head of branch, John Lewis Edinburgh, said:
“Over the past year we have seen a strong performance at John Lewis Edinburgh. We’ve seen an increased demand for furniture, home furnishings and accessories. Our new Hotel Chocolat café has proved very successful as did the introduction of foreign currency. Fashion sales in Edinburgh remained strong, with growth in beauty, accessories and branded womenswear.
“I would like to thank all 738 of our Partners (staff) who continue to provide the high standards of service and shopping experience our customers have come to expect.”
How will that work out personally for some of the Edinburgh employees?
Jonathon McAvoy, 17, apprentice
Jonathon joined John Lewis Edinburgh in September so this will be the first year he receives the annual Partner bonus. Jonathon’s girlfriend lives in Chicago and he will be putting his bonus towards a long-awaited trip to the Windy City.
He said: “The annual Partner bonus is a huge benefit of working for John Lewis Edinburgh. Because of the distance my girlfriend and I don’t get to see too much of each other, but my bonus means that I can book an extra trip across the pond to see her this year. As well as seeing the sights of Chicago we’ve also booked tickets to a music festival – I can’t wait for my trip!”
Fern Findlay-Greene, 27, Customer Support
Fern has been working at John Lewis Edinburgh for twelve years. Last year she put her bonus towards her dream wedding and this year will be spending it on a perfect honeymoon.
“My husband and I are planning a trip to the Bahamas and the Virgin Islands for some much needed sun, sea and sand.
“Working in the bureau de change means I get to chat to customers about the amazing destinations they’re jetting off to and it’s great to be able to tell them where I’m going too!”
Helen Mackness, 30, Section manager (Womenswear)
Helen has been a Partner at John Lewis Edinburgh for eight years. She will be using her annual bonus to furnish her new flat.
“Over the past few years I saved my bonus away for the deposit on my flat, which I finally bought last year. This year I’ll be investing in some quality furniture to really make the place my own.
“Working in John Lewis Edinburgh means I get to check out all the latest home trends and furniture styles. There are a few items in the home department that I’ve got my eye on and can’t wait to place my order!”