
The business, across both its John Lewis and Waitrose divisions, employs in excess of 90,000 people and has operated as an employee-owned company since 1950. Its owners, called ?partners?, participate in an annual survey influencing how the business is run and are entitled to an equal percentage of the profits.
Despite announcing a 24 per cent rise in profits before tax for the year ending 30 January 2016, totalling ?435m, higher pension charges and lower property profits meant pre-tax profits before exceptional items dipped from ?343m to ?305.5m. Waitrose, meanwhile, reported an operating profit two per cent down on 2014-15 figures of ?232.6m. John Lewis has reported consistent turnover growth for the last 17 years, belying the dip in performance experienced by many retailers during the financial crisis and its immediate aftermath. Read more on John Lewis:- John Lewis to ?revolutionise home retail? with ?14m investment to dominate sector
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