John Lewis hopes for late Christmas boost as sales decline
Friday 20 December 2013
John Lewis has revealed that sales fell last week across all its London stores, compared with the same week a year ago, in the clearest sign yet that people are leaving their Christmas shopping later than ever.
The department store hopes to see a boost this weekend with some workers getting paid today and internet deliveries now unlikely to arrive before Christmas.
However, the rush for electricals has failed to materialise.
The drop in sales comes at the same time as rival Marks & Spencer prepares to launch a huge 30 per cent sale across its entire non-food offering tomorrow.
M&S’s decision has led some analysts to argue it risks losing loyal customers.
Independent retail analyst Nick Bubb said: “Marks & Spencer have just thrown away all their pricing power by launching a ‘Mega Day’ tomorrow so close to Xmas. We thought of burning the ashes of an M&S pink coat at Marble Arch to mourn the death of full-price retailing.
"Whether it will turn out to be worth doing that in the short term, just to try to save the CEO’s job, remains to be seen, but the M&S brand will suffer long-term damage.”
At John Lewis, sales at its Oxford Street store for the week to December 14 fell 3.9%, its Brent Cross site dropped 10.1% and Peter Jones in Chelsea fell 1%. Overall, sales were up 1.4% to £149.9 million.
- 1 This is what the one in ten British men who pay for sex need to know
- 2 Lee Evans announces retirement from comedy on The Jonathan Ross Show
- 3 These grandmas smoking weed for the first time are wonderful
- 4 Woman opens professional cuddling shop – gets 10,000 customers in first week
- 5 Angelina Jolie confuses everyone with 'ay up me duck' East Midland's greeting to Derby actor Jack O'Connell at awards show
Jeff Fletcher dead: Britpop guitarist is decapitated by lorry in horrific traffic accident
These grandmas smoking weed for the first time are wonderful
Jimmy Ruffin dead: Motown legend, who wrote 'What Becomes of the Brokenhearted', dies aged 78
New York snowstorm: Five dead and state of emergency declared as 'wall of snow' buries Buffalo
Woman opens professional cuddling shop – gets 10,000 customers in first week
'Muslims pre-date Columbus in discovering America,' says Turkish president Erdogan
France 'blocks' Russian sailors from boarding a warship
Former Tory PM Sir John Major says 'we would not have an NHS without migrants'
G20 summit: David Cameron warns Vladimir Putin that Russia's relationship with the West is at a 'fork in the road' over Ukraine
Myleene Klass: Ed Miliband 'strikes back' by comparing UK's need for Labour's mansion tax to Hear'Say track
Coalition government has 'shifted money from poorest to better-off' through welfare cuts and tax reductions, study claims
iJobs Money & Business
£20000 - £25000 per annum + OTE £35,000: SThree: We consistently strive to be ...
£50000 - £90000 per annum + benefits: Ampersand Consulting LLP: Markit EDM (CA...
$175 - $200 per annum, Benefits: full benefits: Carlton Senior Appointments: P...
Not specified: Carlton Senior Appointments: Senior MD Financial Advisor - San ...