Published on
Following today’s release of John Lewis Partnership results for FY2020/21; Zoe Mills, senior retail analyst at GlobalData, a leading data and analytics company, comments: “The John Lewis Partnership’s full-year results highlight parallels to Marks & Spencer, as its food & grocery business drives growth for the department store operator while its John Lewis & Partners arm underperforms, a result that would have been considerably more stark had it not been for its technology division. Despite Dame Sharon White confirming that partners would not be paid a bonus this year, the retailer did have a surprisingly better H2 2020/21 than was previously anticipated as demand over the peak Black Friday and Christmas period grew. However, its respectable group profit before bonus, tax, and exceptional items of £131m, hides the significant increase in exceptional costs (£648m) as it adapted to the COVID-19 pandemic through a greater shift to online as well as restructuring c