Latest news with #JasonTarry
Yahoo
21-07-2025
- Business
- Yahoo
John Lewis considers awarding staff bonus for first time in four years
John Lewis is poised to reinstate its prized staff bonus for the first time in four years after upbeat trading put it on course for higher profits. The retail partnership, one of Britain's largest mutuals, is considering paying out the bonus to 69,000 workers after a turnaround in performance at its flagship stores. According to internal documents, the group's board will be asked to recommend reinstating the payout if pre-tax profits reach £200m for the year to February 2026. Profits last year totalled £126m, up from £42m, and sales are expected to have increased in the first half of 2025 – leaving it well positioned to hit the milestone. The documents, seen by the Financial Times, said John Lewis expected to pass the £200m threshold and added 'to get there we need to keep focused on the right things and deliver our plans'. Bringing back the payout would mark a major win for Jason Tarry, the new chairman who joined the retailer last September replacing Dame Sharon White. The former UK chief of Tesco has steered a turnaround drive at the partnership, with bosses saying they are now 'relentlessly focused' on retail again having dabbled in financial services and housing. John Lewis, which also owns grocer Waitrose, first cancelled the prized payout in 2020 having paid the bonus every year since 1953. It was briefly reinstated in 2022 but has not been paid since amid a tougher trading environment. Despite tripling profits last year, the group said it had 'prioritised' higher pay for staff as well as other investments instead of paying the bonus. The move prompted anger from members, who campaigned to get the payout reinstated. A staff petition launched earlier this year said that workers were 'working harder than ever' but many were 'getting less recognition'. 'The bonus meant something more than just money. It was a sign that the company saw and appreciated us,' the letter said. John Lewis has faced a variety of struggles in recent years, including navigating the pandemic as well as rising levels of online shopping destroying trading in its bricks-and-mortar stores. In 2021, under Dame Sharon, it suffered a £648m loss because of a significant write-down on the value of its shops as well as restructuring costs. On the back of this, the retailer launched a five year cost-cutting plan to try and return to profit. The partnership paid a record £116m in salaries last year and raised its minimum pay to £11.55 an hour. Reviving the payout hinges on trading remaining successful for the rest of the year. A John Lewis spokesman said: 'As we said at our full year results in March, we expect to increase our profitability in the coming year.' Broaden your horizons with award-winning British journalism. Try The Telegraph free for 1 month with unlimited access to our award-winning website, exclusive app, money-saving offers and more. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Daily Mail
21-07-2025
- Business
- Daily Mail
John Lewis and Waitrose staff set to receive bonus for the first time in four years
John Lewis is set to pay a bonus to thousands of staff for the first time in four years after a challenging period for the company. The employee-owned business, which runs the department store chain and Waitrose supermarket arm, is considering the bonus after a turnaround in performance. John Lewis initially pressed pause on the payouts for its 69,000 staff in 2020 - the first time since 1953 - as it was hit by pandemic lockdown store closures, and has not paid a bonus to staff since 2022. In March, the company said it would not pay a bonus despite seeing an upturn in profit, instead focusing on improved pay and investment in the business. It received backlash from employees who launched a petition saying they were 'working harder than ever' but 'getting less recognition'. However, the board will now reportedly be asked to recommend a payment if pre-tax profits reach £200million in the year to February 2026. An internal update seen by the Financial Times said it was aiming for over £200million profit, adding that 'to get there we need to keep focused on the right things and deliver our plans'. It would mark a significant reversal in fortune for the company, which has struggled with dwindling sales and increased competition. Profit before tax reached £97million in the year to 31 January 2025, up from £56million a year earlier and the company said it expects to increase profitability in the coming year. New chair Jason Tarry is overseeing a transformation plan this year, which includes a self-funded investment of £600million. The retailer said the transformation would include 'store refurbishments and openings, technology upgrades, and supply chain modernisation.' In another sign that Tarry's turnaround plan is gaining momentum, John Lewis topped customer service rankings, ahead of rival M&S. John Lewis scored 86.7 out of 100 in a survey of 60,000 shoppers by the Institute of Customer Service, while M&S scored 85.6.
Telegraph
20-07-2025
- Business
- Telegraph
John Lewis considers awarding staff bonus for first time in four years
John Lewis is poised to reinstate its prized staff bonus for the first time in four years after upbeat trading put it on course for higher profits. The retail partnership, one of Britain's largest mutuals, is considering paying out the bonus to 69,000 workers after a turnaround in performance at its flagship stores. According to internal documents, the group's board will be asked to recommend reinstating the payout if pre-tax profits reach £200m for the year to February 2026. Profits last year totalled £126m, up from £42m, and sales are expected to have increased in the first half of 2025 – leaving it well positioned to hit the milestone. The documents, seen by the Financial Times, said John Lewis expected to pass the £200m threshold and added 'to get there we need to keep focused on the right things and deliver our plans'. Bringing back the payout would mark a major win for Jason Tarry, the new chairman who joined the retailer last September replacing Dame Sharon White. The former UK chief of Tesco has steered a turnaround drive at the partnership, with bosses saying they are now 'relentlessly focused' on retail again having dabbled in financial services and housing. John Lewis, which also owns grocer Waitrose, first cancelled the prized payout in 2020 having paid the bonus every year since 1953. It was briefly reinstated in 2022 but has not been paid since amid a tougher trading environment. Despite tripling profits last year, the group said it had 'prioritised' higher pay for staff as well as other investments instead of paying the bonus. The move prompted anger from members, who campaigned to get the payout reinstated. A staff petition launched earlier this year said that workers were 'working harder than ever' but many were 'getting less recognition'. 'The bonus meant something more than just money. It was a sign that the company saw and appreciated us,' the letter said. John Lewis has faced a variety of struggles in recent years, including navigating the pandemic as well as rising levels of online shopping destroying trading in its bricks-and-mortar stores. In 2021, under Dame Sharon, it suffered a £648m loss because of a significant write-down on the value of its shops as well as restructuring costs. On the back of this, the retailer launched a five year cost-cutting plan to try and return to profit. The partnership paid a record £116m in salaries last year and raised its minimum pay to £11.55 an hour. Reviving the payout hinges on trading remaining successful for the rest of the year. A John Lewis spokesman said: 'As we said at our full year results in March, we expect to increase our profitability in the coming year.'
Scottish Sun
09-07-2025
- Business
- Scottish Sun
Best and worst UK retailers revealed as popular chain makes surprise drop – check where your favourite ranked
We've also listed the top-performing companies across other industries, including banking, hospitality, and insurance SHOP TO IT Best and worst UK retailers revealed as popular chain makes surprise drop – check where your favourite ranked THE Institute for Customer Service has revealed the UK's top-rated retailers for customer satisfaction in 2025. John Lewis has reclaimed its position as the UK's top-rated retailer for customer satisfaction, scoring 86.7 in the latest UK Customer Satisfaction Index (UKCSI). Advertisement The result places it ahead of rival Marks & Spencer, which scored 85.6 for its food division and 85.4 for non-food, after overtaking John Lewis in January. Other top performers include Holland & Barrett (85.4), Ocado (83.5), and Amazon (83.4). Each year, The Institute of Customer Service names the top 50 organisations across industries such as retail, banking, leisure, hospitality, telecommunications, and automotive. This year's UKCSI revealed that customer satisfaction in retail is improving, with 17 retailers making the top 50 list. Advertisement Non-food retailers led the way with an impressive average score of 81.5. However, the news wasn't as bright for Waitrose, John Lewis Partnership's food chain. It fell to 26th place with a score of 82.4, down from fourth last year, as it faces challenges like increased competition from discount grocers and declining consumer confidence. John Lewis' success comes after a strategic turnaround led by chairman Jason Tarry and MD Peter Ruis, focusing on better customer experience, revamped stores, improved online services, and a return to its price-match promise. Advertisement This has driven higher satisfaction and a 73% rise in profits, though its sales still lag behind M&S. Popular retailer to RETURN 13 years after collapsing into administration and shutting 236 stores Jo Causon, chief executive of the Institute of Customer Service, said: "Retail is a competitive space which consistently ranks among the top sectors for customer satisfaction. "The John Lewis turnaround is noteworthy, as an increase in customer satisfaction has coincided with a rise in profits, something we also saw with M&S. "Successful retailers understand it pays to consistently focus on the customer to drives brand loyalty, trust, and sustainable growth – and as our research shows, enables organisations to weather difficult events, such as cyberattacks." Advertisement How did each sector perform in customer satisfaction? THE latest UKCSI data shows improved customer satisfaction across most sectors over the past year and six months. Automotive : Satisfaction rose by 1.0 points since July 2024, reaching 79.5, with a smaller 0.9-point increase since January 2025. : Satisfaction rose by 1.0 points since July 2024, reaching 79.5, with a smaller 0.9-point increase since January 2025. Banks & Building Societies : Scored 81.1 in July 2025, up 1.8 points over the year and 1.1 points since January. : Scored 81.1 in July 2025, up 1.8 points over the year and 1.1 points since January. Insurance : Improved by 1.3 points year-on-year and since January, reaching 78.8. : Improved by 1.3 points year-on-year and since January, reaching 78.8. Leisure & Hospitality : Scored 80.0, up 1.0 points over the year and 0.7 points since January. : Scored 80.0, up 1.0 points over the year and 0.7 points since January. Public Services (Local) : Saw the biggest year-on-year rise in satisfaction, up 2.4 points to 72.7, and a 1.7-point increase since January. : Saw the biggest year-on-year rise in satisfaction, up 2.4 points to 72.7, and a 1.7-point increase since January. Public Services (National) : Scored 74.0, up 0.7 points year-on-year and 0.3 points since January. : Scored 74.0, up 0.7 points year-on-year and 0.3 points since January. Retail (Food) : Satisfaction climbed by 1.2 points over the year and 0.7 points since January, reaching 80.6. : Satisfaction climbed by 1.2 points over the year and 0.7 points since January, reaching 80.6. Retail (Non-food) : Scored 81.5, up 1.1 points year-on-year and 0.9 points since January. : Scored 81.5, up 1.1 points year-on-year and 0.9 points since January. Services : Saw the largest improvement overall, rising by 3.1 points to 76.6 over the year and 2.5 points since January. : Saw the largest improvement overall, rising by 3.1 points to 76.6 over the year and 2.5 points since January. Telecommunications & Media : Scored 74.4, with a 1.1-point increase year-on-year and since January. : Scored 74.4, with a 1.1-point increase year-on-year and since January. Tourism : Satisfaction rose by 1.2 points over the year and 0.9 points since January, reaching 80.5. : Satisfaction rose by 1.2 points over the year and 0.9 points since January, reaching 80.5. Transport : Improved by 2.4 points year-on-year and 1.7 points since January, scoring 73.9. : Improved by 2.4 points year-on-year and 1.7 points since January, scoring 73.9. Utilities: Rose 1.9 points over the year and 1.7 points since January, reaching 71.7. Which other companies are included in the top 50? First Direct, Starling Bank, John Lewis, and Nationwide are the top-rated organisations for customer satisfaction, with scores of 87.7, 87.0, 86.7, and 86.3 respectively. Banks and building societies are strong contenders, with seven organisations in the top 50, including three of the top five. PayPal and Klarna made their debut in the UKCSI, ranking among the 10 highest-rated organisations. Seven automotive companies and six tourism firms also feature in the top 50, while just two insurance providers, SAGA and Aviva, made the list. Advertisement Jet2 is the only transport company included, and HM Passport Office is the highest-rated organisation in the public services (national) sector. Of the top 50 organisations, 34 improved their scores by at least one point compared to July 2024, with eight achieving an increase of four points or more.
Fashion Network
08-07-2025
- Business
- Fashion Network
John Lewis beats M&S in customer satisfaction ranking
The retailer was forced to take its website down for weeks with M&S admitting the attack would hit profits by around £300 million this year. Meanwhile, John Lewis has been been making progress with turnaround efforts and has continued to expand its third-party fashion offer at pace. The company's contrasting fortunes come as John Lewis benefits from a turnaround strategy led by Jason Tarry, the former Tesco executive who was appointed last year as the partnership's chairman. Peter Ruis, who was also made executive director of John Lewis last year is hailed for bringing back the 'Never Knowingly Undersold' price pledge last September. On Tuesday, Ruis told The Daily Telegraph that John Lewis was 'honoured' to top the UK Customer Satisfaction Index, adding: 'The customer service offered by our expert partners has been at the heart of our brand for 160 years. 'Our customers appreciate our investments in quality products, value and service with more people shopping with us and millions benefitting from our 'Never Knowingly Undersold' price promise.' Last week, M&S chief executive Stuart Machin said the company needed 'to just get back, get our product back online, get the stores in even better shape… I've been in stores every weekend, and we're okay, but we're not as good as we should be.'
