John Lewis has highlighted the importance of 'Innovation in a Changing Market' in its annual report.

John Lewis Partnership, which has more than 75,000 staff in Britain, said in a statement that it would pay all workers an additional 14 percent of their salary from a bonus pot of £165.2 million ($260 million, 198 million euros). Charlie Mayfield, Chairman of John Lewis Partnership, commented: "We have achieved a good sales performance in a tough year for the economy. Profits are lower than last year, but better than expected and I'm delighted to announce that all 81,000 Partners will be receiving a bonus equivalent to over 7 weeks' pay."

Profound changes are taking place in the retail sector and importantly this was a year when we upped the pace of innovation and investment. That came at the price of some short-term profit but leaves us in a good place at the start of this year."