John Lewis’ sales drop for fifth week in a row
Published: 27 October 2008
Like-for-like revenue down 7.6% to £48.2m for week ending October 18 as nervous shoppers stay away.
Sales at some John Lewis stores saw a decline of more than 20%, with the company's flagship Peter Jones branch, in the Chelsea area of London, falling 18.7%.
Total sales across the John Lewis Partnership, which also incorporates the Waitrose supermarket chain, dropped 2.9% to £122m.
Director of selling operations at John Lewis, Dan Knowles, said: "The current economic climate and consequent customer caution in spending led to a disappointing week."
He added: "If it's tough for John Lewis, the chances are it's even tougher for everyone else."
According to the company, furniture, homewares and electrical goods all suffered poor sales, with home furnishings seeing a 14% decline compared to a year ago.