John Lewis sees sales upturn
Monday, 05 December 2011
John Lewis has seen an upturn in sales, which rose 15 per cent from last week, a 10 per cent increase over last year. The recent strike and cooler weather drove shoppers to stores, pushing up sales in the fashion department last week, said Nat
Wakely, sales director. According to the Financial Times, year-on-year revenues had fallen the week before by 1.2 per cent, and were down 3.3 per cent in the week to November 18.Wakely
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predicted trading for the rest of December should bear up well: “In this economy, people wait for that last pay-cheque and then spend.”Independent research appears to support that. The Springboard National High Streets Index, which looks at 85 high streets across the country, found that for three weeks out of four in November, footfall rose from last year. “Historically, the third week of November [which saw a 2.5 per cent decline] is a struggle for retailers as it’s one week prior to the last pay day before Christmas and families are often anticipating feeling the financial strain and avoiding the shops,” said Diane Wehrle, research director.
Over the course of the month, 0.7 per cent fewer people hit the high streets, according to Springboard, “the smallest decline for November in four years”.
The store’s price-matching policy means discounting at the brand reflects trends elsewhere on the high street. Mr Wakely said offers at rivals such as Debenhams appeared to have held steady from last year. But Ms Wehrle pointed to retailers cutting prices, and suggested shoppers have been holding out for the best deals.
Image: John Lewis SS11 campaign
