John Lewis Partnership Annual Report and Accounts 2015

Annual Report and Accounts 2015

John Lewis Partnership plc

9

What do we mean by ‘omnichannel’?

Our ‘omnichannel’ sales approach provides customers with a seamless shopping experience, whether they are buying online from a desktop, with a mobile device, over the telephone or in a ‘bricks and mortar’ shop.

What do we mean by ‘supply chain’?

Our supply chain starts with the sourcing of raw ingredients, and ends with the delivery of finished products to our customers. It includes all stages in between.

BEING MORE PRODUCTIVE MEANS WE CAN GROW OUR PAY AND FINANCIAL RETURNS THROUGH BONUS.

Sir Charlie Mayfield Chairman, John Lewis Partnership

Profit before tax per average full-time equivalent Partner decreased by 17.9% last year – a result of an increase in Partner numbers and a decrease in profit.

Our response

Partner productivity and continuous improvement are at the heart of an employee-owned business. Our Partners play a vital role in growing profitability through personal contributions. We expect this to be a prominent topic during the next three-year Partnership Council term.

Go to Partner review page 52, 3

What’s the challenge?

As co-owners, we need to become more productive. In some cases this will mean role changes, with some lost and others created. It also means a greater contribution from our Partners through personal development, job design and technology. This is not about ‘working harder’. It is about our ability to offer worthwhile and satisfying jobs. It is the sustainable way to enable growth in Partners’ pay and bonus levels.

WE ARE DETERMINED TO ACHIEVE AN INCREASINGLY POSITIVE CYCLE OF INVESTMENT, EFFICIENCY AND PRODUCTIVITY TO DRIVE GREATER FINANCIAL RETURNS: PROFIT, PAY AND PARTNER BONUS.

WE NEED TO BE MORE PRODUCTIVE

Introduction

Partnership difference

Principles

Strategy

Performance

Governance

Financial statements

Page 1 | Page 2 | Page 3 | Page 4 | Page 5 | Page 6 | Page 7 | Page 8 | Page 9 | Page 10 | Page 11 | Page 12 | Page 13 | Page 14 | Page 15 | Page 16 | Page 17 | Page 18 | Page 19 | Page 20 | Page 21 | Page 22 | Page 23 | Page 24 | Page 25 | Page 26 | Page 27 | Page 28 | Page 29 | Page 30 | Page 31 | Page 32 | Page 33 | Page 34 | Page 35 | Page 36 | Page 37 | Page 38 | Page 39 | Page 40 | Page 41 | Page 42 | Page 43 | Page 44 | Page 45 | Page 46 | Page 47 | Page 48 | Page 49 | Page 50 | Page 51 | Page 52 | Page 53 | Page 54 | Page 55 | Page 56 | Page 57 | Page 58 | Page 59 | Page 60 | Page 61 | Page 62 | Page 63 | Page 64 | Page 65 | Page 66 | Page 67 | Page 68 | Page 69 | Page 70 | Page 71 | Page 72 | Page 73 | Page 74 | Page 75 | Page 76 | Page 77 | Page 78 | Page 79 | Page 80 | Page 81 | Page 82 | Page 83 | Page 84 | Page 85 | Page 86 | Page 87 | Page 88 | Page 89 | Page 90 | Page 91 | Page 92 | Page 93 | Page 94 | Page 95 | Page 96 | Page 97 | Page 98 | Page 99 | Page 100 | Page 101 | Page 102 | Page 103 | Page 104 | Page 105 | Page 106 | Page 107 | Page 108 | Page 109 | Page 110 | Page 111 | Page 112 | Page 113 | Page 114 | Page 115 | Page 116 | Page 117 | Page 118 | Page 119 | Page 120 | Page 121 | Page 122 | Page 123 | Page 124 | Page 125 | Page 126 | Page 127 | Page 128 | Page 129 | Page 130 | Page 131 | Page 132 | Page 133 | Page 134 | Page 135 | Page 136 | Page 137 | Page 138 | Page 139 | Page 140 | Page 141 | Page 142 | Page 143 | Page 144 | Page 145 | Page 146 | Page 147 | Page 148 | Page 149 | Page 150 | Page 151 | Page 152 | Page 153 | Page 154 | Page 155 | Page 156 | Page 157 | Page 158 | Page 159 | Page 160 | Page 161 | Page 162 | Page 163 | Page 164 | Page 165 | Page 166 | Page 167 | Page 168 | Page 169 | Page 170 | Page 171 | Page 172 | Page 173 | Page 174 | Page 175 | Page 176 | Page 177 | Page 178 | Page 179 | Page 180 | Page 181 | Page 182 | Page 183 | Page 184