|    FM Home   |    FM News   |    FM Forum   |    FM Blog   |    17th of January 2018
|   Banking  |   Insurance  |   Property  |   Mortgages  |   Economy  |   Investments  |   Credit Cards  |   Debt  |   Loans  |   Pensions  |   Companies  |  

Economy News feed Economy News

Companies news feed Company News

All Financial News feed All Financial News




John Lewis sees further slowdown in weekly sales

Bookmark and Share

by Kay Mitchell
”John

There is further evidence today of a slowdown in consumer spending after the John Lewis Partnership, which is regarded as a barometer of British retailing, reported a further fall in weekly sales.

The renowned employee-owned department store said department store sales fell 2.2% to £50.1 million in the week to 22 January.

In the week to 15 January, the department store chain also reported a fall in sales – which was attributed to the VAT hike from 17.5% to 20%.

Prior to the VAT hike, sales surged 38.7%.

Commenting on today’s figures, the company said: “It was a quieter week for John Lewis but the comparisons against last year are difficult to read due to periods of heavy snowfall in the first week of January last year and the resulting uplift in trade over the following two weeks.”

Meanwhile, sales at its Waitrose supermarket chain also slowed, with sales up 5.5% on the year to £93.2 million in the week to 22 January.

However, the luxury chain is still one of the UK’s fastest growing supermarkets.

Discuss this in the Finance Markets forums

Story link: John Lewis sees further slowdown in weekly sales



News posted: January 28, 2011

Financial Services:





Related financial stories to: John Lewis sees further slowdown in weekly sales:
Previous: «
Next: »

Visited 2756 times, 1 so far today

No Comments

No comments yet.

RSS feed for comments on this post.

Sorry, the comment form is closed at this time.

Tags: , , ,