Waitrose Woes Knock John Lewis Annual Profits

Written By Unknown on Kamis, 12 Maret 2015 | 18.56

Annual profits have fallen by 9% to £342.7m at the John Lewis Partnership and its staff bonus has been cut to 11% of salary as a result.

The employee-owned group's performance was mostly hit by the effects of the supermarket price war on Waitrose.

It was reflected in the bonus to its partners, which fell for the second year in a row.

The group's 93,800 staff will each take home almost six weeks' pay - £156.2m in total.

The award was 15% of salary in the previous year and 17% in 2012/13.

Operating profits at Waitrose came in at £237.4m in the 53 weeks to 31 January - a fall of 23.4% - despite like-for-like sales rising 1.4% and market share growth.

The group blamed investment costs and a "highly competitive and deflationary market" for the performance - the supermarket price war.

Morrisons had earlier confirmed a similar hit to its annual profits from the effects of the industry battle.

The John Lewis department stores achieved 10.8% growth in operating profit to £250.5m.

Group chairman Sir Charlie Mayfield said: "The partnership achieved a strong sales performance with increased market share in both Waitrose and John Lewis, and customer numbers up by 6% and 4% respectively.

Profit before Partnership Bonus, tax and exceptional items is down 9.0% (down 10.5% on a 52-week basis), with increased profits in John Lewis offset by a decline in Waitrose.

"The investments made over many years in systems, logistics and IT infrastructure, combined to enable John Lewis to make more deliveries via Click & Collect than to customers' homes for the first time.

"John Lewis was able to fulfil over 6.4 million orders over the year with 98.7% of parcels in store the following day.

"Waitrose (was) ... held back by three factors: the impact of trading in a highly competitive and deflationary market; a significantly higher level of investment in the year; and the impact of one-off items, including property impairments and onerous leases".

The partnership admitted Waitrose had endured a tough start to the new trading year, with like-for-like sales excluding petrol down 2.8% in the first five weeks.

The high-end retailer has been ramping up promotions as it bids to be more competitive on price.

Sir Charlie added: "We expect the returns for the grocery sector to be materially lower for a period of time".


Anda sedang membaca artikel tentang

Waitrose Woes Knock John Lewis Annual Profits

Dengan url

http://temannyakawanya.blogspot.com/2015/03/waitrose-woes-knock-john-lewis-annual.html

Anda boleh menyebar luaskannya atau mengcopy paste-nya

Waitrose Woes Knock John Lewis Annual Profits

namun jangan lupa untuk meletakkan link

Waitrose Woes Knock John Lewis Annual Profits

sebagai sumbernya

0 komentar:

Posting Komentar

techieblogger.com Techie Blogger Techie Blogger