John Lewis to pay first staff bonus for four years [Yahoo! Finance]
TESCO PLC S/ADR (TSCDY)
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Source: Yahoo! Finance
The partnership, which operates the eponymous department store chain and Waitrose supermarkets, said underlying profits had grown during its last financial year. The 2% bonus, equivalent to an extra week's pay, will be the first its staff have received since 2022. It was scrapped during the Covid pandemic when the business underwent a major revamp which included shutting shops and cutting jobs. Looking ahead, John Lewis said it remained "cautious" for the current year but was in a stronger position financially "to navigate the challenging macroeconomic environment". Richard Hyman, retail industry analyst described the 2% staff bonus as "modest". But he said: "I think it reflects progress being made by the new leadership team of the partnership, so it is very reassuring that they are going in the right direction." In 2024, the company appointed Jason Tarry, the former boss of Tesco in the UK, as its chair, taking over from Dame Sharon White. The latest results show the bus
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