Surprise dip in sales at John Lewis
The retailer, which this week reported a 60 per cent jump in first-half profits, said sales for the week to 8 September rose 4.3 per cent – well down on the 10.4 per cent growth for the same period a year ago. Its Aberdeen branch enjoyed a 7.2 per cent increase, but sales in Edinburgh were down 1.3 per cent.
John Lewis said the slowdown was primarily due to a drop in footfall “fuelled by the fantastic weather at the end of the week”.
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Hide AdHoward Archer at IHS Global Insight warned against reading too much into one week’s sales, “but the concern is that the John Lewis figures could be a sign that many consumers are tightening their belts after the summer holidays”.