John Lewis welcomes ‘return to normality’
Retailer optimistic despite like-for-like sales dip
By CFOWorld.co.uk | CFO UK | Published 10:32, 13 May 11
John Lewis is hoping for a return to “regular shopping behaviour” after several months of unusual trading conditions, the retailer said on Friday.
The suggestion comes despite a dip in like-for-like sales in the first fairly comparable week for some time after Easter bank holidays, the royal wedding and an unprecedented spell of good weather in April.
Strong fashion sales in recent days couldn’t keep the retailer’s overall figures for the week to May 7th from falling by almost a million pounds to £54.3 million.
“Following the royal wedding there was an on-going 'Pippa effect' in our occasion wear section, with long, flowing, green and champagne-coloured dresses sought after, delivering the highest sales for this department in four years,” a statement from the company said.
“With the wedding behind us and the vote on AV declared, the consumer will hopefully return to more regular shopping behaviour, looking for great quality product, fairly priced, which plays to our strength.”
Earlier this week, John Lewis appointed as its new finance director Rachel Osborne, former UK chief financial officer at the French food services and facility management group Sodexo.
Share:Facebook Twitter Google Plus Stumble Upon Reddit Share This Email this article
Working capital improvements start to pay off, but more could be donemore ..
Balfour board says the offer does not address its two main concernsmore ..
The FTSE100 housebuilder credits Help to Buy with encouraging growthmore ..
Price drops in clothing and food biggest contributor to fall in inflationmore ..
Outdated finance processes, systems and competencies leave too many questions unansweredmore ..
CFOs are keen for the chancellor to avoid any uncertaintymore ..