John Lewis Announce Strong Sales

Department store retailers John Lewis have today announced strong growth over the Christmas period as a result of increased sales throughout its electrical product lines, in spite of the credit crisis and effects of rising interest rates on consumer spending which have hit many retailers over the last quarter and across the festive sales periods.

The retailing group announced today that total sales over the week to the end of December were up to £70.2 million, strong on £65 million for the same period the Christmas prior, which has seen John Lewis buck the trend of retailers over the period feeling the effects of summer credit problems.

John Lewis also reported strong sales from its online retailing channels, which have seen growth of over two thirds from the same period last year, and has been highlighted as a channel for particular expansion over the coming quarters. Meanwhile its supermarket division Waitrose also reported growth in sales by 28.5% over the Christmas period.

The news comes in a week that has seen numerous mainstream retailers report falling sales and profit warnings, along with cautious forecasts for the coming twelve months. Amongst some of those affected by the current external market conditions are fashion brand Next, along with electrical retailer DSG International, which owns PC World and Currys.

Whilst John Lewis does use a slightly different analysis of sales as many other high street retailers, it still appears that its results have outperformed the competition over the Christmas and early January sales period.

It remains to be seen whether John Lewis can continue with its momentum into the new year, and whether or not it can continue to survive amidst the growing hostility within the retail market affected by the current economic climate.

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