Halloween shopping lifts John Lewis department stores
Weekly sales at John Lewis JLP.UL department stores jumped 7.8 per cent year-on-year, boosted by demand for Halloween products and early Christmas shopping and adding to signs of a consumer recovery in Britain. However, the employee-owned group, which...
Weekly sales at John Lewis JLP.UL department stores jumped 7.8 per cent year-on-year, boosted by demand for Halloween products and early Christmas shopping and adding to signs of a consumer recovery in Britain. However, the employee-owned group, which is seen as a barometer for British retail spending, signalled the recovery remained fragile, noting that sales rose at only four of its 28 department stores against the same week in 2007.
Sales totalled £61.9 million in the week ended October 31, led by an 11.7 per cent increase in electricals and home technology products.
Sales of homewares rose 9.7 per cent, while fashion sales were up 6.3 per cent.
Rivals like Debenhams, Marks & Spencer and Next have all reported stronger-than-expected trading in recent weeks, raising hopes of a quick recovery from recession.
But the firms have also warned consumer confidence remains fragile and could take a hit next year when unemployment and taxes are expected to rise. Official data for September also showed British retail sales failed to grow for a second month running.
John Lewis said weekly sales at its upmarket Waitrose grocery stores rose 10.1 per cent to £84.9 million, confirming its position as one of the fastest growing British supermarket chain.