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Sunday, November 14, 2010johnlewisretailbusiness

John Lewis sees early start to Christmas sales

John Lewis said today the starting gun had been fired for Christmas as sales jumped more than 10% last week to put takings ahead of the level seen a year ago. Its managing director Andy Street said: "With very strong figures from last year against us, our results are a clear sign that the steep sales climb towards Christmas has begun in earnest." John Lewis's sales increased 11.5% in the week to 13 November, with the retailer reporting strong demand for home-related goods such as towels and bedding as shoppers began to dress their homes for Christmas. The retailer rang up sales of £77m, 7% more than the same week a year ago. Retailers have their fingers crossed as they enter the frantic six-week trading period during which they make the bulk of their profits. Recent indices have pointed to weak consumer confidence and torpid sales growth. Street said: "Our hunch is that these figures will be better than the rest of the market. This is a very robust performance, and in contrast to what everyone else is saying about things being difficult."

Source: The Guardian ↗

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