John Lewis staff are expected to see their annual bonus slashed next week when the department store chain unveils a sharp drop in full year profits.

The partnership, which includes upmarket supermarket Waitrose, warned in January that it might have to axe the renowned payout for the first time since 1953 as it battles challenging trading conditions.

Even if the bonus is reduced rather than axed on Thursday, it will represent the sixth year in a row that the firm's 83,000 workers have had to stomach a cut.

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Independent retail analyst Nick Bubb said: "They could still afford to pay a 3% bonus - which would cost circa £45 million - but they have softened the staff up for nothing."

Outgoing chairman Sir Charlie Mayfield said in January that the board will need to consider carefully whether "payment of a bonus is prudent in the light of business and economic prospects".

Superdry co-founder Julian Dunkerton has officially demanded a shareholder meeting as part of his efforts to stage a comeback at the fashion chain.

The requisition for a general meeting also calls for Peter Williams, who chairs fashion chain Boohoo, to be made a director.

Mr Dunkerton is acting with co-founder James Holder. Together the pair own 29% of Superdry.

A stock exchange announcement read: "Julian Dunkerton and James Holder, the co-founders of Superdry and the beneficial owners of c.29% of the company's shares, announce that they have... requisitioned Superdry to convene a general meeting of shareholders.

"The purpose of the meeting is to put forth resolutions for the appointment of Mr Julian Dunkerton and Mr Peter Williams to the board of directors of Superdry."

London Stock Exchange Group has posted a rise in annual sales and profits, but the company's new chief executive said he would prioritise investment over earnings growth.

The exchange operator booked a 14% rise in operating profit to £751 million in 2018, while revenue jumped 8% to £1.9 billion.

LSE had been targeting an earnings margin target of around 55% this year.

The group will also cut around 5% of global headcount, or 250 staff, and look to make £30 million of cost savings per year.