Page 16


Business review

Review of performance (continued)


(Photo of Andy Street, Managing Director, John Lewis)

John Lewis

Overall sales have increased despite an uncertain market, especially in fashion where we experienced volume and price growth. Our electrical and home technology (EHT) sales held up well, however, sales in home-related categories were affected by the weaker consumer environment. Meantime our fashion offer demonstrated excellent growth as we sought to reinvigorate the appeal of the product range. Gross sales were up by 2.8%, at £2.9bn and on a 52 week basis sales grew +4.3%. Likefor-like sales were up 2.3% on a 52 week basis.

We saw total sales growth of 9.0% in Fashion and 3.6% in EHT and 2.5% in Home, and in all categories we increased market share. Fashion sales were boosted by a combination of continued success in attracting new brands, and much improved design and value in JL branded clothing and accessories. Success in EHT reflected great availability and an unstinting commitment to ‘Never Knowingly Undersold.’

Collaborations with British designers and the introduction of our value range have contributed strongly to our performance in Home.

Sales per square foot fell by 3.4% to £740, from £766 last year, but sales per selling FTE grew by £5,000 (3.6%) to £163,300.

(Continued on page 17...)

(Photo captioned: Fashion sales were boosted by attracting new brands and by improved design and value in ownbrand clothing and accessories)


(Graph of John Lewis Gross sales and operating margin performance (£m))

(Graph of John Lewis Gross sales per square foot (selling space) (£))

(Graph of John Lewis Gross sales per selling FTE (£’000))