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Reuters
Published
Feb 25, 2011
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John Lewis sales reinforce consumer slowdown signs

By
Reuters
Published
Feb 25, 2011

John Lewis
Exterior of John Lewis on Oxford Street
Feb 25 - Retailer John Lewis reported a fifth consecutive week of subdued sales at its department stores, adding to signs that pressure is building on consumers from higher prices, taxes and public spending cuts.

The employee-owned group, which has long outperformed the broader retail sector, said on Friday sales at its department stores fell 0.4 percent year on year to 51.24 million pounds in the week ended February 19.

Sales were held back by the timing of the half-term school holidays, which are mostly a week later this year.

"Turning to this week ... we are definitely seeing the benefit of improved footfall from families shopping during half term," John Lewis said in a statement.

A survey on Thursday showed retail sales in February grew at their slowest rate since June, although a poll on Friday suggested consumer confidence edged up from January's 22-month low.


John Lewis, Britain's biggest department store group, said weekly sales fell 2.1 percent excluding the recent rise in VAT sales tax.

Weekly sales at its upmarket grocery chain Waitrose leapt 13.3 percent to 98.4 million pounds as shoppers treated themselves for Valentine's Day.

(Reporting by Mark Potter; editing by David Hulmes)

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