Partly Cloudy

Partly Cloudy

max temp: 10°C

min temp: 9°C

ESTD 1874 Search

Retail: John Lewis posts strongest annual growth in sales since start of recession

17:39 31 January 2014

The  John Lewis at home and Waitrose stores in Ipswich.

The John Lewis at home and Waitrose stores in Ipswich.

Department store chain John Lewis said today it had notched up its best annual like-for-like sales growth since the start of the recession.

Total revenues for the year to January 25 increased by 7.4% - including a rise of 8% in the second half of the year.

Managing director Andy Street said: “By any measure that’s a pleasing outcome as it represents a decisive gain in market share.”

He said the store had seen success in “bricks and clicks” with the “powerhouse” of online taking the lead, while 16 shops registered record years.

The company did not provide a like-for-like annual figure in its trading update, but Mr Street said: “For the year as a whole the shop story is one of delivering the best ‘like for like’ movement since the onset of the recession.”

He said the momentum would be taken into the new trading year, adding: “We have lots of plans to stand out from the crowd in 2014.”

Sales in the final week of the trading year were up 12.7% to £66.7million compared with the same period last year, helped by a comparison with a snow-hit spell in 2013.

Sister company Waitrose said it had seen total sales for the half year excluding petrol up by 6.8%, driven by the popularity of its myWaitrose loyalty scheme together with the growth in online.

Industry figures two weeks ago showed the supermarket had again extended its market share, to 4.8%.

IHS Global Insight economist Howard Archer said: “The recent robust John Lewis performance supports hopes that consumer spending will be decent during the early months of 2014, and help the economy to continue to grow strongly.”

Search hundreds of local jobs at Jobs24


The views expressed in the above comments do not necessarily reflect the views of this site

Ian Thoroughgood, associate director at Grant Thornton in Ipswich, with Jonathan Agar, chief executive of Birketts.

Business advisers firm Grant Thorton is to unveil its 15th “Suffolk Limited” report next month on how the county’s leading businesses have performed over the past year.

Colleagues at Care UK's Peninsula NHS Treatment Centre.

Colchester-based Care UK is celebrating after one of its nine NHS treatment centres across the country achieved an overall “Outstanding” rating from the Care Quality Commission (CQC).

Adnams Bitter pairs well with roast meats.

The finance boss of East Anglian brewer Adnams has urged MPs to consider if “over-generous” pension promises which could bring companies to their knees could be watered down or reversed.

The Lloyds Bank School for Social Entrepreneurs graduates.

Seventeen entrepreneurs from School for Social Entrepreneurs East, at Ipswich Waterfront have graduated from Lloyds Bank Social Entrepreneurs Programme


Yesterday, 09:00
Containers at the Port of Felixstowe.

Supply chain group Harrison C White (HCW), which is based in Felixstowe, has signed a heads of terms deal to acquire a “substantial” stake in Scottish shipping and logistics company Anchor Freight.


Show Job Lists

Most read

Most commented

Topic pages


Newsletter Sign Up

Sign up to the following newsletters:

MyDate24 MyPhotos24