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John Lewis sales up 27.4%

Published: 9 January 2009
Department store’s pricing policy to match competitors helps its sales surge into the New Year.
John Lewis sales up 27.4%
John Lewis has revealed a 27.4% jump in weekly sales driven by its policy to keep prices in line with rival retailers. With many on the high street discounting goods in the run up to Christmas, John Lewis has had to follow suit to keep up with lower price points.

This seems to have paid off for the department store chain as, in the week to January 3, its sales hit £78.61m compared with £61.73m in the same period last year.

John Lewis' head of selling development, Barry Matheson said: "Customers have clearly been attracted by our commitment to being Never Knowingly Undersold, even during competitors' sales."

Home was up 13.2%, although down 10.7% overall in the 23 weeks to January 3. Vision and large electrical appliances also achieved a record ever week.

However, sales for the 23 weeks to January 3 were 3.2% lower than the same period last year, with recent gains pulled down by a prolonged period of decline in the run-up to Christmas.

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