John Lewis reports weaker sales

| June 3, 2011 | 0 Comments
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The John Lewis Partnership, which is regarded as a barometer of British retailing, today reported weaker sales, fuelling fears about consumer spending.

The renowned employee-owned chain said sales in the week to 28 May fell 0.8% to £55 million.

The company has bucked the trend when it comes to retail sales over the last few months but today’s figures will no doubt raise concerns about spending as consumers cut back due to high unemployment, rising inflation and spending cuts.

Commenting on today’s figures, the firm said: “We had a very good week of weather against us last year and this year there was rain and even hail in parts of the UK. We also have tough comparisons in EHT (electrical and home technology) to contend with due to buoyant sales of TVs for the (2010) World Cup.”

Meanwhile, sales at its Waitrose supermarket chain rose 7.3% to £104.2 million in the week to 28 May – after cooler weather led to stronger sales of comfort food.

The luxury chain is one of the UK’s fastest growing supermarkets and is in the midst of a major expansion programme.

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