John Lewis chairman Charlie Mayfield has said that the company has recorded an impressive rise of 60 per cent in profits during the first six months of the year.
"Our rate of growth will remain positive but will be slower in the second half and, with further investment planned in that period to strengthen our business, the rapid rate of profit increase is not expected to be carried through to the full year," he said.
John Lewis, a department store chain in the UK, recorded a growth of 13 per cent in sales during the week in the week till 11 August, 2012.
The company was able to generate £168.30 million during the week. The increase came during the final week of London 2012 Olympic Games as people were inspired by the performers to buy sporting goods and champagne.
There has been a competition between Department store House of Fraser and John Lewis. The store House of Fraser has overcome its rival John Lewis by posting an 8.5 per cent rise in primary sales during the festive period.
Before December, both House of Fraser and John Lewis had been performing powerfully and the Christmas sales resulted that department stores has been benefited from offering a "one-stop-shop" as the shopping trips of consumers were decreased in the cold weather.
The UK's biggest department store operator, John Lewis Partnership, which witnessed a 9.7 per cent growth in its profit before tax for the last financial year, has announced £151.3 million bonus for its staffs. The company's pre-tax profit for the period remained at £306.6 million.
The amount stands for almost 15 per cent or close to eight week's salary of the staff, called partners. As per the Charlie Mayfield, the Chairman of the company, nearly 70,000 partners would receive the benefit.
UK based Retail Major John Lewis has announced to pay £140 million as bonus to its staff. The last year performance of the company was exceptional despite of the economic and retail downturn.
As a result, around 70,000 of John Lewis staff are going to get a handsome amount of bonus this year. Workers are expecting that the extra payment will be approximately 14% of their per annum salary. This amount will be equivalent to eight weeks pay of a person.
Christmas turned better for the John Lewis department store chain as shoppers making beelines to push seasonal sales. The group sold goods worth more than £100m during the five week festive trading period, reporting 13 per cent hike in sales compares to the corresponding period last year.
Group's sister business, Waitrose too performed well making the store to call it as best ever Christmas and clearance trading. Andy Street, Managing Director of John Lewis, expressed, "We have seen excellent sales during Christmas and Clearance."
One of Britain's top retailers, John Lewis reported on Friday a 17.1% rise in department store sales for the week up-to November 14, further backing the fact that the chain has had a brisk start to the Christmas season. The overall sales figures reported for the week, which include online sales and sales at Waitrose, Lewis's supermarket chain, as well, have been the highest that John Lewis has recorded in the year so far.