John Lewis posts 30% rise in weekly sales
The John Lewis Partnership, which is seen as a barometer of British retailing, today announced that sales grew 30% in the week to 3 April, compared with the same period a year ago.
The renowned employee-owned department store said poor weather and the Easter holiday encouraged consumers to spend and provides evidence that the economic recovery is gathering momentum.
The firm said the outcome represented a 21% increase compared with Easter week last year.
The firm has been outperforming its rivals this year and said it is optimistic that strong sales will continue.
Merchandise director Jill Little said: “We now have news of the general election, but it remains to be seen whether this will have an impact on consumer confidence.”
Meanwhile, sales at its Waitrose supermarket chain, sales surged 34.4% to £104 million.
Earlier this week, British retailing giant, Marks and Spencer (M&S), posted better-than-expected same store sales of 5.1% in the UK in the 13 weeks to March 27 (its fiscal fourth quarter).
“Given a series of recent improved data and survey evidence, it does appear that the UK recovery may be becoming a little more firmly established,” said Howard Archer, chief economist at IHS Global Insight.
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