John Lewis saw fashion sales rise over the full year as it continued to develop its own label ranges.
The company said that fashion sales grew 5% over the year ended 25 January, and overall gross sales rose 7.5%, passing £4bn for the first time. Like-for-like sales grew 6.4% over the year.
Online sales grew 19.2% to £1.1bn over the year, with click-and-collect growing 57% over the year.
“This has been another good year for the Partnership. Both Waitrose and John Lewis increased market share for the fifth consecutive year, profit before exceptionals has grown by almost 10% and, for the first time, we have achieved sales of over £10 billion. As a result of our performance, I am delighted that 91,000 Partners will receive a Bonus of 15%, equivalent to nearly 8 weeks’ pay,” said John Lewis Partnership chairman Charlie Mayfield.
“Our ownership by Partners has played a key role in these results. There are fundamental changes taking place in retail, especially in customer attitudes towards value, convenience and personalisation. For several years we have been adapting our business to take advantage of these changes. That has required high levels of investment, organisational change and new capabilities. The level of change has at times been challenging, but Partners have understood and embraced the need for their business to continue to develop.”
In December John Lewis recorded a 9.7% rise in consumer spending in the run up to Christmas, driven partly by lingerie sales.
The retailer noted in a statement that it saw an increase in lingerie sets being sold, perhaps reinforcing the stereotype that more men choose to buy their gifts at the last minute than women.