John Lewis Defies Retail Struggles

Tuesday, 18th December 2018

The company, which is employee owned, says that the sales boost can be attributed to the price matching discounts, and that they are enjoying increased business from customers looking for Christmas gifts and for decorations. Their upward trend is in stark contrast to others in the retail sector, who are reporting disappointing Christmas sales.

Online fashion retailer Asos published a profit warning earlier this week, and mall owner Peer Group has started initiatives, including offering some rent-free periods in Eldon Garden, in a bid to rejuvenate the mall.

Up until recently John Lewis had been struggling with poor sales, with even Black Friday being disappointing. The pre-Christmas sales boost will be reassuring for the company, and also gives some hope for the rest of the retail sector at a time when many companies are struggling with store closures and weak revenues. Sports Direct owner Mike Ashley, for example, has hit out at landlords who have been unwilling to negotiate with him to help him save House of Fraser branches in Edinburgh, Swindon and Hull. Debenhams and M&S have also announced rounds of store closures in recent months.

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