|    FM Home   |    FM News   |    FM Forum   |    FM Blog   |   
Tuesday 15th of June 2010
June 11, 2010    

John Lewis weekly sales boosted by World Cup build-up

Bookmark and Share

by Kay Murchie

The John Lewis Partnership, which is regarded as a barometer of British retailing, today announced that sales grew 20.6% to £54 million in the week to 5 June, compared with the same period a year ago.

The renowned employee-owned department store said the build-up to the World Cup tournament (which starts today) boosted sales.

The company said consumers “splashed out on new flat-screen TVs,” adding that World Cup stock had also performed very well in sports and childrenswear.

Meanwhile, sales at its Waitrose supermarket chain rose 6.1% to £94.4 million in the week, highlighting Waitrose’s current position as one of the UK’s fastest growing supermarket.

Waitrose managing director, Mark Price, recently pledged to double sales and market share over the next 10 years as the chain strives to become “more accessible to more people”.

Commenting on the figures, Howard Archer, chief economist at IHS Global Insight, said: “The football World Cup always tends to have some upward impact on retail sales and this is liable to be magnified the better that England do.

“Further out, it is hard to be optimistic about the prospects for consumer spending. Indeed, we believe that consumer spending will be limited for some time to come,” he added.

Discuss this in the Finance Markets forums

Story link: John Lewis weekly sales boosted by World Cup build-up




Related financial stories to: John Lewis weekly sales boosted by World Cup build-up:
Previous: «
Next: »

Visited 319 times, 2 so far today

No Comments »

No comments yet.

RSS feed for comments on this post.

Leave a comment

Tags: , , build-up, double digit, , , , ,