John Lewis sales fall as shoppers feel pinch

first_imgFriday 28 January 2011 3:22 am Show Comments ▼ Share whatsapp alison.lock Tags: NULL whatsapp Department store John Lewis suffered a decline in sales last week, a sign that an increase in VAT sales tax has further weakened already fragile UK consumer spending.The retailer, which also owns supermarket chain Waitrose, said its department store sales fell 2.2 per cent to £50.1m in the week to January 22.Sales in the previous two weeks had increased 4.1 per cent and 38.7 per cent respectively.“It was a quieter week for John Lewis but the comparisons against last year are difficult to read due to periods of heavy snowfall in the first week of January last year and the resulting uplift in trade over the following two weeks,” it said in a statement.It said taking the week ending January 15 and the week ending January 22 together provides a more realistic comparison with last year, and this gave an overall increase of one per cent.The John Lewis data, published as a survey, said British consumer confidence tumbled to its lowest in almost two years in January.“The slowdown in John Lewis sales is particularly notable as the company has been clearly out-performing the retail sector as a whole,” said IHS Global Insight economist Howard Archer.“The John Lewis figures suggest that consumers are becoming increasingly less prepared, or less able, to spend as higher inflation and muted earnings growth squeezes their purchasing power.” More From Our Partners A ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.com‘Neighbor from hell’ faces new charges after scaring off home buyersnypost.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgMark Eaton, former NBA All-Star, dead at 64nypost.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgSupermodel Anne Vyalitsyna claims income drop, pushes for child supportnypost.comBrave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.orgRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgKiller drone ‘hunted down a human target’ without being told tonypost.com980-foot skyscraper sways in China, prompting panic and evacuationsnypost.comUK teen died on school trip after teachers allegedly refused her pleasnypost.comBiden received funds from top Russia lobbyist before Nord Stream 2 giveawaynypost.comMatt Gaetz swindled by ‘malicious actors’ in $155K boat sale boondogglenypost.comBill Gates reportedly hoped Jeffrey Epstein would help him win a Nobelnypost.comI blew off Adam Sandler 22 years ago — and it’s my biggest regretnypost.comInside Ashton Kutcher and Mila Kunis’ not-so-average farmhouse estatenypost.comFlorida woman allegedly crashes children’s birthday party, rapes teennypost.com John Lewis sales fall as shoppers feel pinch last_img

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