UK store John Lewis posts 7.2% jump in holiday sales
[LONDON] British department stores group John Lewis scored a 7.2 per cent rise in Christmas sales, as strong demand for items from tablet PCs to coffee machines helped it become one of this year's likely winners in the UK retail sector.
The improvement comes despite unusually stormy British weather in the run-up to Christmas and a still-cautious approach by many consumers, sparking speculation that many retailers would struggle during the key holiday period.
John Lewis yesterday said sales from online outlets and shops rose to £734 million (S$1.5 billion) in the five weeks to Dec 28, including its biggest-ever taking of £35.6 million on day one of its in-store clearance sale on Dec 27.
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Companies & Markets
UBS weighs synthetic risk transfer amid capital boost proposals
Oil settles higher on supply concerns in the Mid-East, economic woes subdue gains
S-Reits falter as investors weigh possibility of zero rate cuts in 2024
CapitaLand Investment posts total revenue of S$650 million for Q1
Europe: Stoxx 600 logs best day in three months as banks shine
US: Stocks rally after strong tech results