John Lewis sales up despite signs of belt tightening
The employee-owned chain posted an overall 0.5 per cent year-on-year rise in turnover during the week to 4 June, with Glasgow up 0.3 per cent. Edinburgh's sales slipped by 0.5 per cent while Aberdeen tumbled 8 per cent.
Howard Archer, chief UK and European economist at IHS Global Insight, warned: "Despite the marginal headline increase in sales in the latest week's trading, the John Lewis figures do little to dilute the serious concerns over the health of the UK consumer - particularly as John Lewis has consistently out-performed the retail sector in recent times.
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Hide Ad"The signs point to consumers generally becoming more circumspect in spending again after splashing out a bit in April due to the later Easter, royal wedding and good weather.
"The fact is that many consumers are unwilling - or unable - to spend heavily."
Freddie George, a retail analyst at Seymour Pierce, added: "We are also concerned that the department store's 'sales' are being brought forward because of weak sales and this will ultimately have an impact on margins."