John Lewis fashion sales tumble but menswear powers ahead
Fashion sales at John Lewis & Partners fell 2.8% in the seven weeks to 18 January as customers shopped the final week of clearance, the retailer’s latest weekly figures have revealed.
It seems January continues to be a tough month for the department store chain with overall sales down 2.8% compared to the same period last year. Home sales dropped 9.3%, while electricals and home technology sales grew by a slim 1.4%.
Within fashion, menswear sales provided some relief, up by 7.3% as the retailer price matched competitor promotions.
Electrical and home technology sales were lifted by positive sales of computers due to new product launches and Windows 7 reaching End of Life, which pushed many customers to upgrade their devices.
Last week John Lewis focused on cutting prices to clear space for its Spring Summer 2020 collections.
The stock clearance sale will, without a doubt, continue to put a strain on the retailer’s bottom line. Earlier this year, John Lewis warned that full-year profits will be substantially down year-on-year, following a weak festive trading period.
Additionally, the retail business will soon be without a top executive, as Paula Nickolds is set to leave in February after seeing her role eliminated as part of an executive overhaul.
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