The John Lewis Partnership has said it will not hand staff a bonus for only the second time since 1953 after the retail group fell to a hefty loss.
The group, which runs the department store chain and Waitrose supermarket arm, recorded a £78 million loss before exceptional items for the year to January 28.
In a letter to staff, Ms White said: “You’ve been exceptional in what has been another very tough year. Two years of pandemic and now a cost-of-living crisis. On Thursday, the retail group said it fell to the loss after customers bought less, with sales declining by 2% to £12.25 billion for the year. It said the increased savings are likely to include an extra £236 million from further “simplification”.
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