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John Lewis sales accelerating

first_img RETAILER John Lewis said year-on-year department store sales accelerated last week, shrugging off fears that prospective tax rises and employment uncertainty would hit consumer spending.The employee-owned firm, traditionally seen as a bellwether of the UK retail sector but which has outperformed competitors for over a year, said sales at its 28 department stores and one “at home” store grew 15.5 per cent to £52.5m in the week to 7 August.“The first week of the half year, and a vibrant performance to get us under way as we generated sales 15.5 per cent ahead of last year’s mark. Branch teams reported significant footfall, particularly on Saturday,” said Chris Hooper, John Lewis’ head of operational support.The department store outcome followed rises of 5.3 per cent and 8.2 per cent in the previous two weeks respectively, but concerns about future growth in the retail sector persist.“In light of forthcoming VAT increases, concerns about public spending cuts and worries about the housing market, we believe spending is likely to be subdued over the next quarter,” said Seymour Pierce analyst Freddie George.John Lewis also owns the 231-store Waitrose supermarket chain, where week to 7 August sales rose 10.3 per cent to £89.6m, underlining its status as one of the UK’s fastest growing grocers.“There is no doubt, we believe, the company, as is M&S, is benefiting from householders staying at home during the holiday season and eating out less after the (soccer) World Cup,” said George. John Lewis sales accelerating John Dunne Show Comments ▼ Share Read This Next’A Quiet Place Part II’ Sets Pandemic Record in Debut WeekendFamily ProofHiking Gadgets: Amazon Deals Perfect For Your Next AdventureFamily ProofBack on the Rails for Summer New York to New Orleans, Savannah and MiamiFamily ProofIndian Spiced Vegetable Nuggets: Recipes Worth CookingFamily ProofAmazon roars for MGM’s lion, paying $8.45 billion for studio behind JamesFamily ProofYoga for Beginners: 3 Different Types of Yoga You Should TryFamily ProofTortilla Mango Cups: Recipes Worth CookingFamily ProofWhat to Know About ‘Loki’ Ahead of Disney+ Premier on June 9Family ProofThe Truth About Bottled Water – Get the Facts on Drinking Bottled WaterGayot whatsappcenter_img Tags: NULL Friday 13 August 2010 3:25 am whatsapp Ad Unmute by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMoneyPailShe Was A Star, Now She Works In ScottsdaleMoneyPailUndoNoteabley25 Funny Notes Written By StrangersNoteableyUndoBetterBe20 Stunning Female AthletesBetterBeUndoautooverload.comDeclassified Vietnam War Photos The Public Wasn’t Meant To Seeautooverload.comUndoAtlantic MirrorA Kilimanjaro Discovery Has Proved This About The BibleAtlantic MirrorUndoTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastUndoElite HeraldKate Middleton Dropped An Unexpected Baby BombshellElite HeraldUndoTrading BlvdThis Picture of Prince Harry & Father at The Same Age Will Shock YouTrading BlvdUndoTaonga: The Island FarmThe Most Relaxing Farm Game of 2021. No InstallTaonga: The Island FarmUndolast_img

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