John Lewis, Britain’s biggest department store group, said on Friday its sales rose 3.5 per cent year-on-year in the week to December 5, partly driven by matching the prices of competitors’ deals.
The employee-owned firm said sales totalled 165.6 million pounds. A week-on-week decline of 11.8 per cent reflected the previous week’s record-breaking numbers on the back of the “Black Friday”, November 27, promotional day.
John Lewis is the only major British retailer to publish weekly sales data, providing the most up-to-date snapshot of shopping trends.
Britons’ spending power has benefited over the past year from a pick-up in earnings when inflation is hovering around zero and interest rates are still at record lows.
However, data showed British retail sales grew at the weakest pace for any November since 2011 as hopes of an industry-wide boost from Black Friday discounts fell flat.