John Lewis Partnership is set to boost staff pay by 10% as part of a £116m investment.
The business, which also owns Waitrose, is understood to confirm the record pay increase when it posts its full-year results next week, Retail Week reported.
Effective April 1, the increase is expected to see minimum pay rates increase by 10% to £12.89 in London and £11.55 per hour nationwide.
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It would be the largest boost to staff pay announced across the sector this month, with the increase higher than Tesco’s “biggest ever single investment” of £300m into shop employees and more than Currys’ £13m boost into pay.
John Lewis will unveil its annual results on March 14 in what is likely to show another year of tough trading.
However, Chair Dame Sharon White told the Partnership’s workers in January that the business would “more than break-even” after it made a £234m loss last year.
The retailer, which is in the midst of a turnaround plan spearheaded by White, has stepped up its efforts in recent months and is likely to cut as many as 11,000 roles over the next five years as part of its cost cutting efforts.
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