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Friday, 29 June 2012 - Demand for iPads, e-readers lift John Lewis sales |
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See the best of Reuters photography.  See more | Photo caption  Raging wildfires Raging fires strike Colorado and Utah.  Slideshow  Health in America An essay of photos taken by Reuters photographers during assignments on health care.  Slideshow  Demand for iPads, e-readers lift John Lewis sales Tweet Share this Email Print Related News Debenhams surprises with sales rise Thu, Jun 28 2012 Tesco's UK sales fall as recovery plan struggles Mon, Jun 11 2012 Queen Elizabeth gives thanks to end rapturous jubilee party Tue, Jun 5 2012 Analysis & Opinion Next Week: Managed expectations Hunting hogs Related Topics Tech » Media » iPad » LONDON | Fri Jun 29, 2012 3:54am EDT LONDON (Reuters) - John Lewis, Britain's biggest department store group, posted another strong rise in weekly sales, driven by strong demand for technology products and the start of its clearance sale. The employee-owned retailer, which has a bias to the south east of England, said on Friday its sales increased 9.9 percent year-on-year to 76.12 million pounds ($118.03 million) in the week to June 23. Sales of electricals and home technology items jumped 28.2 percent, fashion revenues rose 6.9 percent and homewares sales were up 1.6 percent. "Our performance in electricals continues to delight," John Lewis' buying and brand director Peter Ruis said. "Much of the strength in this area comes from customers continuing to buy into our new technology offer with our communication technology department delivering a 78.2 percent increase, powered by our largest-ever week on Apple and a 20 percent increase in e-reader sales as customers prepare for holidays." The retailer has been outperforming the wider market as its generally more affluent customers have been less impacted by Britain's double dip recession, while improvements to product and service and new modern stores have chimed with consumers. John Lewis' sales are, however, flattered by the fact the firm has more shops than last year and by higher prices because of inflation. Also electrical items tend to have relatively low profit margins. "Management describes it as a fantastic performance," said Seymour Pierce analyst Kate Calvert. "On-line also continues to perform strongly with sales up 36.1 percent with particularly strong demand for the special buy Nespresso Coffee Machine and 50 inch Panasonic television." Many British retailers remain under pressure as consumers are squeezed by higher prices, muted wage growth and government austerity measures designed to cut record national debt. However, on Thursday, Debenhams, Britain's No. 2 department store group, posted a surprise 3.1 percent rise in sales in the last 16 weeks. Earlier this week an industry survey showed British retail sales rose at their fastest pace in 1-1/2 years in June as Britons splashed out for the Queen's Diamond Jubilee celebrations. John Lewis also owns upmarket supermarket chain Waitrose. Here week to June 23 sales rose 1.8 percent to 107.5 million pounds. (Reporting by Rhys Jones; editing by Kate Holton) Tech Media iPad Related Quotes and News Company Price Related News Tweet this Link this Share this Digg this Email Reprints   We welcome comments that advance the story through relevant opinion, anecdotes, links and data. If you see a comment that you believe is irrelevant or inappropriate, you can flag it to our editors by using the report abuse links. Views expressed in the comments do not represent those of Reuters. 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Thomson Reuters journalists are subject to an Editorial Handbook which requires fair presentation and disclosure of relevant interests. NYSE and AMEX quotes delayed by at least 20 minutes. Nasdaq delayed by at least 15 minutes. For a complete list of exchanges and delays, please click here.

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