John Lewis weekly department store sales up 3.5 percent

John Lewis weekly department store sales up 3.5 percent

LONDON, (Reuters) – John Lewis [JLP.UL] [JLPLC.UL], Britain's biggest department store group, said on Friday its sales rose 3.5 percent year-on-year in the week to Dec. 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 percent reflected the previous week’s record-breaking numbers on the back of the "Black Friday" (Nov. 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 & interest rates are still at record lows.

However, data published on Tuesday 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.

(Reporting by James Davey; Editing by Keith Weir)

Source: “Reuters”