80


John Lewis Partnership plc Annual Report and Accounts 2015 Our key financial performance indicators (continued)


Definition


Realise market potential Gross sales growth %


Gross sales growth Percentage increase in gross sales during the reporting period. Gross sales is defined on page 131.


Like-for-like sales Like-for-like sales is a measure of the year-on-year branch and online gross sales growth, removing the impact of branch openings and closures. This measure indicates the underlying sales performance on a consistent basis.


Sales growth is a key retail measure, and we use it to establish how the John Lewis Partnership is performing against the overall market. It also measures our aim to achieve long-term sustainable growth.


Both Waitrose and John Lewis grew sales well ahead of their respective markets, increasing their market share. Waitrose outperformed the Kantar Grocery Market by 4.8% and John Lewis outperformed the BRC Retail Index by 4.9%. On a 53 week basis the KPI was 7.6%.


Gross sales growth % 10.6


6.4 9.3 6.6 5.7


Why we use this measure


Commentary


How we have performed


2011


2012 Like-for-like (%) Waitrose* *


Grow efficiently Partnership profit margin %


Profit before Partnership Bonus, tax and exceptional item expressed as a percentage of revenue.


Measures whether profitability is changing at a higher or lower rate relative to revenue.


Partnership profit margin has decreased from 4.2% to 3.5%, principally due to the decline in operating margin in Waitrose. On a 53 week basis the KPI was 3.5%.


Partnership profit margin % 5.0*


4.6* 4.1 4.2 3.5 +1.4%


John Lewis +6.5% Excludes petrol sales.


2013


2014


2015


*


Not restated for the adoption of IAS 19 (revised). 2011


2012 2013 2014


2015


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