Home / Knowledge / News / Apparel/Garments / John Lewis FY'14 PBIT expects boost of 10%
John Lewis FY'14 PBIT expects boost of 10%
07
Mar '14
John Lewis Partnership plc announces Unaudited results for 52 weeks to 25 January 2014.
 
Financial Highlights
-Gross sales exceed £10bn for the Partnership, £6bn for Waitrose and £4bn for John Lewis
-Revenue exceeds £9bn for the Partnership, with Waitrose £5.75bn and John Lewis £3.27bn
-Profit before Partnership Bonus, tax and exceptional item up by almost 10%; down by 4% after the exceptional item
-Partnership Bonus of £202.5m; 15% of salary (equal to nearly 8 weeks' pay)
-Net debt of £485.8m, up £113.9m (30.6%)
-Pension deficit of £1,003.4m, up £181.3m (22.1%)
 
Operational Highlights
Waitrose
-13 new branches (including five little Waitrose)
-Total online services gross sales of £262m; Waitrose.com grocery gross sales up 41.4%
-More than 5.6m customer visits each week
-myWaitrose cardholders now account for 68% of sales
-56 months of market outperformance
-johnlewis.com gross sales of £1,142m, up £184m (19.2%)
-Click & collect grown by 57%
-Significant market share gains across all three categories
-New 'at home' store at Ashford and strong store pipeline
-£97m 'Magna 2' distribution centre on track
Partnership
-Net 6,300 new jobs created, a 7.4% increase in Partners
-Invested £584m in benefits to our Partners, including Partnership Bonus, pensions, Partner discount, catering subsidy, long service leave, leisure spending and the running of our five holiday centres
-£85m additional cash contribution to final salary pension scheme in January 2014
 
Charlie Mayfield, Chairman of John Lewis Partnership, commented:
'This has been another good year for the Partnership. Both Waitrose and John Lewis increased market share for the fifth consecutive year, profit before exceptionals has grown by almost 10% and, for the first time, we have achieved sales of over £10 billion.
 
As a result of our performance, I am delighted that 91,000 Partners will receive a Bonus of 15%, equivalent to nearly 8 weeks' pay. The Bonus reflects the balance of a strong trading year, but also the increased costs of pension provision. The exceptional costs of £47m, relating to holiday pay premiums (announced in August), did not affect the bonus percentage.
 
Our ownership by Partners has played a key role in these results. There are fundamental changes taking place in retail, especially in customer attitudes towards value, convenience and personalisation. For several years we have been adapting our business to take advantage of these changes.
 
That has required high levels of investment, organisational change and new capabilities. The level of change has at times been challenging, but Partners have understood and embraced the need for their business to continue to develop. 
 

John Lewis

Must ReadView All

Courtesy: Li & Fung

Textiles | On 29th Mar 2017

Li & Fung introduces new 3-year plan 2017-2019

Li & Fung Limited has outlined its next Three-Year Plan (2017-2019)...

Courtesy: Carrington

Apparel/Garments | On 29th Mar 2017

Carrington Workwear signs JV with TMG Textiles

Carrington Workwear, one of the largest producers of workwear fabrics ...

Apparel/Garments | On 29th Mar 2017

Jabong launches Aeropostale on its platform

Jabong has added leading American high-street fashionwear brand,...

Interviews View All

Asim Dalal
Indo Count Retail Ventures

Today, there is no other emerging market as India, "we make in India and...

Amrit Sethia
SOIE

‘The intimatewear category in India is slowly becoming trend-sensitive.’

Sachin Sharma
Gem Enviro Management Pvt Ltd

There are no significant differences between virgin yarn and PET recycled...

Urs Stalder
Sanitized AG

Urs Stalder, CEO, Sanitized AG, talks about the increasing use of hygiene...

Iago Castro Asensio
RCfil Distribuciones S.L.

Iago Castro Asensio, International Business Manager of RCfil...

Kerem Durdag
Biovation II LLC

Kerem Durdag, CEO, Biovation II LLC, provides an insight into future...

Bani Batra

Bani Batra’s couture wedding collection is inspired by traditional Indian...

Madhu Jain
Madhu Jain

She grew up in the walled city of Old Delhi, completed her studies, and...

Wendell Rodricks
Wendell Rodricks

"We should not compare India and the West. There are things we do that...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH
March 2017

March 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

SUBSCRIBE


Browse Our Archives

GO


eNEWS
Insights
Subscribe today and get the latest News update in your mail box.
Advanced Search