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These influence the business through branch forums and elect some 80-plus representatives to the Partnership Council. It is the largest employee-owned business in the UK. New products boost Despite the cut in staff bonuses, John Lewis reported a rise in sales and profits last year. Profit, before the partnership bonus, tax and exceptional items, rose 21.2% to 370.4m. Overall sales rose 3.2%, with both John Lewis and Waitrose increasing their market share. How does the John Lewis Partnership work? Image copyright EPA Consists of an elected council, a board and a chairman First bonus paid in 1919 First cash bonus in 1970 No bonus paid in First World War, Second World War and early fifties Company says it allows them to have a longer term outlook as it doesn't have to answer to City shareholders Waitrose exports The John Lewis department stores, which say they are "never knowingly undersold" on price, saw sales growth in all major areas. New products such as the Dyson Supersonic hairdryer helped the electronics division, while fashion sales were helped by stocking the brands Finery and Hush, which were previously online only. The Waitrose supermarkets saw like-for-like sales - which strip out the impact of store openings and closures - fall 0.2%, although the company said trading improved in the second half of the year. It is changing its focus to investing in existing stores rather than opening new ones. Waitrose is also looking to export more.
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