John Lewis sales fall for eighth week

11-07-2008

John Lewis sales fall for eighth week
Retailer John Lewis said sales fell 1.3 per cent last week, the eighth decline in a row.

John Lewis, seen as a bellwether for the high street, said the year-on-year fall was lower than last week, when sales plunged 8.3 per cent.

The week was important for the retailer, as it was the start of its clearance.

John Lewis said: "It's definitely tough out there, but many of our competitors would love to have our figures and we should be proud of all that has been achieved."

Fashion led the way, the retailer added, with own-brand womenswear, brands and childrenswear all delivering double-digit growth – as did haberdashery, continuing its strong run.

The strongest branch performance came from Oxford Street, buoyed by trade in fashions and audio/TV.

Howard Archer of Global Insight said: "We suspect that the reduced year-on-year fall in John Lewis department store sales in the latest trading week may well have been a consequence of increasingly pressurized and price conscious consumers looking to concentrate their purchases when there are genuine bargains available in the clearance sales."

The fall in sales follows gloomy news from another British retail institution, Marks & Spencer. The retailer admitted food sales were down and sacked its food director last week.

Bookmark with:
Bookmark with: Digg Digg Bookmark with: Del.icio.us Delicious Bookmark with: Reddit Reddit Bookmark with: StumbleUpon StumbleUpon Bookmark with: Google Google Bookmark with: Technorati Technorati Bookmark with: Netvouz Netvouz

Latest News:

Search News
News Front Page
Accountancy / Tax
Advertising / PR
Armed Forces
Automotive
Aviation / Aerospace
Banking / Finance
Charities / Voluntary
Childcare / Youth
Construction / Property
Customer Services
Education / Training / Teaching
Emergency Services
Engineering / Electronics
Entertainment / TV / Theatre
Graduate Roles
HR / Recruitment
Health / Beauty
Hotel / Catering / Restaurants
IT / Internet
Insurance / Pensions
International / Overseas
Legal
Management / Business
Manufacturing / Industry
Media / New Media / Creative
Medical / Healthcare
Pharmaceutical Industry
Public Sector
Retail / Wholesale
Sales / Purchasing / Marketing
Science / Technology
Secretarial / PA / Admin
Skilled / Semi-skilled Manual
Telecommunications
Transport / Logistics
Travel / Tourism / Leisure