Business | Economy
John Lewis struggles to find shoppers
John Lewis admitted it was struggling to bring shoppers through its doors as it reported another drop in weekly sales and only a small rise in sales for the first half of the year.
- By Jenny Wiggins and Tom Braithwaite, Financial Times
- Published: 23:25 August 4, 2008
John Lewis admitted it was struggling to bring shoppers through its doors as it reported another drop in weekly sales and only a small rise in sales for the first half of the year.
"Sales have been harder to come by than we would have liked, and indeed planned for," the department store chain said.
In the first half of the year, sales at John Lewis, a popular shopping destination for household goods such as toasters, towels and sofas, were up just 0.6 per cent, compared with the seven per cent increase it reported in the first half of 2007.
The company, which also operates the Waitrose supermarket chain, is owned by its staff and its high level of transparency means the weekly results are pored over by analysts and industry peers looking to form a view of the broader sector's performance.
Most retailers have been struggling as shoppers' disposable income is hit by rising inflation. Last week the British Retail Consortium, the main industry body, said consumer confidence was at "all time lows".
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