John Lewis department store sales fall again
LONDON (Reuters) - Retailer John Lewis Partnership JLP.UL reported a 2.8 percent drop in department store sales on Friday, its third consecutive weekly fall, chiming with other evidence of a weakening economy.
The figures came as a GfK/NOP poll published earlier Friday showed consumer confidence fell to its lowest level since 1990 in May.
On Thursday, the Confederation of British Industry said retail sales fell for a second month in May, while the Nationwide Building Society NAT.UL reported house prices fell by 2.5 percent that month, the fastest monthly decline since 1991.
John Lewis's weekly sales figures are closely watched as an indicator of broader trends on Britain's high streets and shopping centres, although the group caters primarily for more affluent shoppers.
The employee-owned company said on Friday total group sales, which include upmarket supermarket Waitrose, rose 1.8 percent in the week to May 24 from a year earlier.
Sales of homeware, which are linked to the ailing housing market, were down 5.7 percent and sales of electrical goods were 10.1 percent lower than last year.
In contrast, clothing sales were up 4.8 percent, with girls' wear and own-brand boys' wear both up more than 20 percent and women's ware and shoes also selling well, John Lewis said.
"There's no doubt that trade remains tough, but all indications are that John Lewis is well placed and we continue to take share from the competition," the company said.
Sales fell in its stores across the country, with only the flagship Oxford Street store in London, Aberdeen and the johnlewis.com website posting a rise. Its sales at the out-of-town Bluewater shopping centre in Kent, southern England fell 11.2 percent, while the Trafford centre in the north of the country posted a 13 percent drop.
(Reporting by Erica Billingham; Editing by Paul Bolding)
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