John Lewis Chair Sharon White pledges to return partnership to "sustainable” profit

John Lewis Partnership Chair Dame Sharon White has promised to return the company to a “sustainable” profit, adding that staff bonuses would only return “when affordable”.

In a speech to the Employee Ownership Association yesterday, White emphasised the group's five year plan, which began in 2021, will get the John Lewis Partnership back to sustainable profit.

She said it would create “a broadly based business with brilliant retail at the core, built on excellent customer service, quality and ethics”.

Last month, a two-part vote took place over the leadership and performance of the John Lewis Partnership.

The council voted to support White in continuing her leadership of the group, but was critical of its latest financial performance in a second vote.

This came after criticism following reports the group, which runs the department store chain and its supermarket arm Waitrose, could bring in outside investment and impact its employee-owned structure.

The group also slumped to a hefty loss in the latest financial year, meaning staff missed out on an annual bonus for only the second time in 70 years.

Yesterday, White explained the growth plan could require external investment but said its employee model would remain.

“Employee-ownership is a given. What makes us special is not incidental to being a partnership. It’s because we’re a partnership." she said.

White also added a bonus would be paid "when affordable".