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John Lewis posts record figures for Christmas period

John Lewis has posted record figures for the Christmas period, with revenues up 6.9 per cent on last year.

Boosted by what has been called a ‘hefty increase in online sales’ the UK retailer hit £951.3 million over the festive shopping period.

Like for like sales for the six weeks to January 2, 2016 also rose 5.1 per cent in value terms, compared with the 4.8 per cent growth of last year.

John Lewis chairman, Charlie Mayfield said the group’s performance was attributable to ‘impressive growth’ in fashion, home and technology.

“Despite the fact trade was even more concentrated across a number of very busy shopping days, our operations performed especially well,” he said.

The retailer has also triumphed in its clearance sales, which began online on Christmas Eve and rocketed up 23 per cent for the week to January 2 and included a 16.2 per cent increase in sales at bricks and mortar stores.

Furthermore, the group’s online sales have tripled over the past eight years, and over the Christmas period rose a record 21.4 per cent to make up 40 per cent of total sales.

John Lewis managing director, Andy Street recently revealed his plans to invest £500 million in online capabilities, the bulk of which will be put into order fulfillment.

But despite the record results for the firm, Street has revealed that with high street rivals Next reportedly ‘catching up’ with the UK retail outlet, “we have to make sure we don’t rest on our laurels.”

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