Nov 20, 2015
John Lewis delivers first £100 mn week of the festive trading season
Nov 20, 2015
John Lewis, Britain's biggest department store group, said on Friday its sales rose 1.5 percent year-on-year in the week to Nov. 14, delivering its first 100 million pound ($153 million) week of the festive trading season.
The employee owned firm said, however, that unseasonably mild weather continued to soften sales of cold weather lines and outerwear, with overall fashion sales up 0.8 percent.
Homeware sales rose 2.8 percent, while sales in the electricals and home technology (EHT) department increased 1.6 percent.
John Lewis is the only major British retailer to publish weekly sales data, providing the most up-to-date snapshot of shopper health.
British consumers have seen a pick-up in wages, falling prices for goods in stores and record-low interest rates that markets do not expect to rise until late next year, or even 2017.
However, on Thursday official data showed British retail sales fell more than expected last month after surging in September, hurt by the biggest drop in food store sales since May 2014.
Separately on Thursday discount retailer Poundland warned of "highly volatile" trading conditions, sending its shares tumbling.
$1 = 0.6551 pounds
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