John Lewis sales suffer new setback
11 April 2012
John Lewis has suffered yet another bad week, highlighting the credit-crunch pressures faced by even the most highly regarded retailers.
Sales at the department stores last week were down 7.6% from a year ago. Peter Jones in the heart of the Chelsea bankers' "bonus belt" was down nearly 19%. John Lewis Oxford Street, traditionally cushioned by tourist spending, fell 7.4%. Kingston, store of choice for well-to-do Surrey families, was down almost 16%. Waitrose fared better, up 0.5% on the year.
John Lewis has seen increasingly poor sales since the collapse of Lehman Brothers and the crisis in the financial markets.
