UK's John Lewis says online sales driving growth
LONDON (Reuters) - Britain's biggest department store group John Lewis posted a 1.8 percent year-on-year rise in sales to 144.5 million pounds ($236.3 million) in the week to December 7, helped by another record week for its online business.
The firm said online sales rose 22 percent compared to the same week last year - a second consecutive week in which the site has taken over a third of overall trade.
The overall increase was down on the previous week's year-on-year growth of 18.4 percent, which benefited from "Black Friday" discounts.
The 149-year-old firm has been winning market share from high-street rivals in recent years due to its strong online offering, modern stores and a more affluent customer base. Last Christmas it reported record sales, while rivals, such as Marks & Spencer endured poor trading in a tough market. ($1 = 0.6115 British pounds)
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DAVOS, Switzerland - Central banks have done their best to rescue the world economy by printing money and politicians must now act fast to enact structural reforms and pro-investment policies to boost growth, central bankers said on Saturday.