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John Lewis sales falter as sun shines on Friday, 3rd August 2012
Photo credit: My Retail Media
John Lewis’ winning streak faltered last week as growth in sales slowed down thanks to hot weather and the opening of the London 2012 Olympic Games.
The department store group on Friday revealed store sales increased 6.2 per cent year-on-year to £56.6 million in the week to 28 July.
The results are a marked slow-down from the previous two weeks’ double-digit sales growth or 11.2 per cent and 17.3 per cent respectively.
Despite the drop, John Lewis managing director Andy Street said the retailer’s first half sales growth of 12.9 per cent was “hugely encouraging”, adding:
"We substantially outperformed a slow market. While we have added a number of new shops, growth from the established business has been strong."
John Lewis’ supermarket group Waitrose fared better with the week’s Olympic celebrations, seeing sales rise 13.6 per cent to £113.7 million in the week to 28 July.
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Posted in Department Stores, Retail Industry Tagged john lewis, department, store, chain, retail, group, olympic, waitrose, merchandise, celebrations, sales, profit, growth
