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John Lewis sales reach record Sales at John Lewis reach record
(about 8 hours later)
The John Lewis department store chain has reported its best-ever Christmas season sales.The John Lewis department store chain has reported its best-ever Christmas season sales.
Like-for-like sales were up 12.7% from last year to £500.8m ($800m) in the five weeks to 2 January 2010.
The group said it had sold goods worth more than £100m in four of the five weeks over the festive trading period.The group said it had sold goods worth more than £100m in four of the five weeks over the festive trading period.
Comparable sales were almost 13% higher than for the same period a year ago and it pulled in £500.8m ($800m). This was thanks to what the store described as "excellent" Christmas and clearance trading. Its sister business, Waitrose, also did well.
This was thanks to what the store described as excellent" Christmas and clearance trading. Its sister business, Waitrose, also did well. In the John Lewis stores, fashion sales were up 22%, home goods increased 19% and electrical and home technology sales jumped 11%.
Andy Street, Managing Director of John Lewis, said: "We have seen excellent sales during Christmas and Clearance." In a statement, John Lewis managing director Andy Street said that the five-week period had seen "a number of records broken" for the company.
Warning note "We beat our previous biggest ever week from 2007 in early December," he said.
"The five-week period has seen a number of records broken. We beat our previous biggest ever week from 2007 in early December." But Mr Street warned that UK High Streets still had a long way to go before sales returned to the levels reached before the economic downturn struck.
Mr Street added a note of warning, though, saying the high street still had a long way to go before sales returned to the levels reached before the economic downturn struck. "The figures are good but that's probably not going to be sustained. It's a purple patch," he told the BBC.
He said: "We expect to see a long slow recovery, with the retailers who continue to focus on giving customers what they want prospering." "Looking into 2010 we think that with higher taxes coming in we're not going to see these figures continue."
Trip round the shops Separate figures from market data firm Experian suggested that, for many retailers, there was a Boxing day sales rush that made up for a disappointing pre-Christmas run up, with a record number of shoppers hitting the shops on 26 and 27 December.
This week should provide a good opportunity to see how a number of well-known retailers fared over the key Christmas season. Experian said there had been an 18.5% jump in the number of shoppers compared with the previous year.
The question is: is John Lewis part of a recovering retail sector, or is it outperforming its rivals? John Lewis did not open its High Street stores on Boxing Day.
Trading updates are due this week from Next, Sainsbury's and Marks & Spencer, starting from Tuesday.
Separate figures from the market data firm, Experian, suggested that for many retailers, there was a Boxing day sales rush that made up for a disappointing pre-Christmas run up, with a record number of shoppers hitting the high street on December 26 and 27.
It said there was a 18.5% jump in the number of shoppers compared with the previous year.
John Lewis, along with Marks & Spencer, did not open its high street stores on Boxing Day.