LONDON - Employee owned retailer, John Lewis Partnership has announced that the same-store sales in its department stores have increased by 4 percent in the first week of the end-of-the-year sale. It said that even though this rate did not match the 24 percent increase in the sales in Christmas week, it was still enough to ensure that it outperformed its rivals on High Street.
"In both [weeks], we traded very strongly, outperforming our competitors and gaining market share. The final week before Christmas saw our record books rewritten," the group said on its website. Total sales for the week up to Christmas Eve jumped by a record 27.7 percent to £81.1 million, the group added. But the sales in the following week dropped by 1.7 percent as compared to previous year's figures. The department store also claimed that in the weeks before Christmas, it was able to gain more than what it has in the highest single weeks in recent years. It was reported that electrical goods and home technology sales spiraled by 51.1 per cent in the Christmas week.
Menswear, leisure and beauty goods were up by 25.5 percent, while sales of toys and crafts increased by 20.3 percent.
At its subsidiary, Waitrose, Christmas week sales increased by 21.8 percent and continued to gain at 10.2 percent in the next week. "The old favorites were once again winners as Champagne, mince pies, cheese, fruit, nuts and Poinsettias exceeded estimated sales," said Angela Megson, director of buying at Waitrose. While, the reports from John Lewis have been positive, other retailers report mixed trading and it is unclear how the retail sector will emerge from the vital Christmas period.
Posted
on : Fri, 06 Jan 2006 20:05 GMT | Business News
By : Mike Lawson
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