John Lewis

John Lewis sales recovered last week as promotional discounting ahead of Christmas brought back customers.

According to figures for the week ending 15 December, total sales were up 1.8% compared to the same week last year.

John Lewis said this was driven by customers Christmas shopping for both food and clothing, with price matching promotions driving up sales.

Specifically, clothing sales rose 9.3%. Meanwhile, in its Beauty, Wellbeing and Leisure departments, sales were up 15.7%. Womenswear and Menswear sales also rose 8.5% and 7.2%, respectively.

Conversely, home sales were down 1.7%. Sales of Christmas trees continued to perform well, up 10%.

At its Waitrose supermarkets, total sales excluding fuel fell 1.9% compared to a year previously. This was attributed to a ‘a planned decision to reduce promotional activity.’

As Christmas fast approaches, the supermarket saw sales of panettone rise 12%, with mince pies also up by 9%.

John Lewis endured a difficult start to 2017, reporting a 99% fall in profits for the six months to July 28.

Nevertheless, Black Friday promotions provided some relief for the group, recording record sales over the weekend.

Despite the Christmas period often being a traditionally lucrative period for retailers, it has proved a difficult November for the high street.

Bonmarché and Superdry both issued profit warnings last year, as consumer confidence continues to weigh on revenues.

However, the downturn is not limited to traditional brick and mortar store models.

Online retailers have also come into pressure in recent months, amid growing concern regarding the ethical implications of so-called ‘fast fashion’.

Shares in ASOS (LON:ASC) plunged on Monday after an unexpected profit warning.

Sales growth forecast were revised from 20 to 25% to 15% as the retailer warned on “economic uncertainty” challenging profitability.

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Nicole covers emerging global economic and political events for The UK Investor Magazine. Her focus is particularly upon company news and political developments in Europe and the US.