John Lewis Partnership plc annual report and accounts 2012

Business review Review of performance

The John Lewis Partnership

 • Gross sales up £523.2m, 6.4%, to £8.73bn

• Sales excluding VAT¹ up £400.5m, 5.4% to £7.86bn

• Group operating profit down £37.7m, 8.7%, to £393.3m

• Profit before Partnership bonus and tax down £14.1m, 3.8%, to £353.8m

• Partnership Bonus of £165.2m; 14% of salary (equal to over 7 weeks’ pay)

Waitrose

 • Gross sales up £425.8m, 8.6%, to £5.40bn

• Sales excluding VAT¹ up £372.4m, 7.9% to £5.07bn

• Food only like-for-like sales up 3.6% (up 3.0% excluding VAT)

• Operating profit down £14.3m, 5.2%, to £260.6m

John Lewis

 • Gross sales up £97.4m, 3.0%, to £3.33bn

• Sales excluding VAT¹ up £28.1m, 1.0% to £2.79bn

• Like-for-like sales up 1.3% (down 0.6% excluding VAT)

• johnlewis.com sales up £141.7m, 26.3%, to £680.8m (up £111.2m, 24.2% excluding VAT)

• Operating profit down £40.5m, 20.4%, to £157.9m

1 Sales excluding VAT are gross sales net of value added tax.

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