Alexa

John Lewis sales hit by Olympics, exam results

John Lewis sales hit by Olympics, exam results

John Lewis, the employee-owned store chain seen as a barometer of Britain's retail sector, said yesterday that latest weekly sales at its department stores fell 4.2 percent compared to last year.
The firm said the drop reflected the distractions of the Beijing Olympics and summer school examination results together with tougher comparative numbers from a year ago.
Sales in the week to August 16 at its 26 department stores fell to 47.2 million pounds (US$88.2 million) - the 10th week out of 15 that sales have fallen as UK shoppers have cut back on spending due to higher fuel, food and mortgage costs.
Many retailers are struggling as consumers curb spending. Sellers of high priced goods are suffering more than most, with fewer people moving home and house prices falling sharply. Analysts estimated the fall on a like-for-like basis, which strips out the impact of new space, to be about 7 percent.


Updated : 2020-12-05 13:45 GMT+08:00