John Lewis plans to reinstate staff bonuses after four years due to higher profits. The retailer may pay out bonuses to 69,000 workers if pre-tax profits hit £200m for the year ending February 2026. Last year, profits reached £126m, up from £42m, with sales expected to rise in 2025.

New chairman Jason Tarry aims to refocus on retail success after dabbling in financial services and housing. John Lewis, which owns Waitrose, canceled bonuses in 2020 and briefly reinstated them in 2022. Despite tripling profits last year, they prioritized higher staff pay and investments over bonuses.

Employees campaigned for the bonus’s return, feeling underappreciated. John Lewis faced struggles in recent years, including pandemic challenges and online shopping competition. The retailer aims to recover from a £648m loss in 2021 through cost-cutting measures and increased minimum pay to £11.55 an hour.

The bonus revival depends on continued trading success throughout the year. John Lewis expects increased profitability in the coming year.

Read more at Yahoo Finance: John Lewis considers awarding staff bonus for first time in four years