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Sales at John Lewis reach record | Sales at John Lewis reach record |
(about 1 hour later) | |
The John Lewis department store chain has reported record sales for the Christmas season. | The John Lewis department store chain has reported record sales for the Christmas season. |
Revenues at the stores hit £500.8m in the five weeks to 2 January, with like-for-like sales up 12.7% from last year. | Revenues at the stores hit £500.8m in the five weeks to 2 January, with like-for-like sales up 12.7% from last year. |
John Lewis said it had sold goods worth more than £100m in four of the five weeks over the festive trading period. | John Lewis said it had sold goods worth more than £100m in four of the five weeks over the festive trading period. |
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 trading week to 26 December, sales at Waitrose were up 20.8% from the same week last year, while in the 13-week period to 26 December total sales at the supermarket chain were up 16.1%. | In the trading week to 26 December, sales at Waitrose were up 20.8% from the same week last year, while in the 13-week period to 26 December total sales at the supermarket chain were up 16.1%. |
'Purple patch' | 'Purple patch' |
In the John Lewis stores, fashion sales were up 22%, home goods increased 19% and electrical and home technology sales jumped 11%. | In the John Lewis stores, fashion sales were up 22%, home goods increased 19% and electrical and home technology sales jumped 11%. |
FROM THE TODAY PROGRAMME More from Today programme | |
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. | 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. |
"We beat our previous biggest ever week from 2007 in early December," he said. | "We beat our previous biggest ever week from 2007 in early December," he said. |
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. | 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. |
"The figures are good but that's probably not going to be sustained. It's a purple patch," he told the BBC. | "The figures are good but that's probably not going to be sustained. It's a purple patch," he told the BBC. |
"Looking into 2010 we think that with higher taxes coming in we're not going to see these figures continue." | "Looking into 2010 we think that with higher taxes coming in we're not going to see these figures continue." |
Christmas run-up | |
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. | |
Experian said there had been an 18.5% jump in the number of shoppers compared with the previous year. | |
John Lewis did not open its High Street stores on Boxing Day. | |
Another retailer to do well in the run-up to Christmas was fashion retailer Next. | Another retailer to do well in the run-up to Christmas was fashion retailer Next. |
In the 22 weeks to 24 December, like-for-like sales at Next Retail were up 3.2%, including internet trading. | In the 22 weeks to 24 December, like-for-like sales at Next Retail were up 3.2%, including internet trading. |
Next has now raised its full-year profit forecast to between £490m and £500m, higher than a previous estimate of about £472m. | Next has now raised its full-year profit forecast to between £490m and £500m, higher than a previous estimate of about £472m. |