Store trade plummets
Published Date:
05 July 2008
By Staff Copy
TRADE at Sheffield's John Lewis department store fell by 12.6 per cent last week as shoppers tightened their belts in response to the credit crunch.
John Lewis posted falls across the board with out-of-town stores worst hit, such as Bluewater in Kent which posted a 24 per cent decline.
Overall electrical and home technology sales were down 15.8 per cent, and home items 13 per cent worse off. Fashion helped stem the decline with a 2pc rise.
Commercial director Phil Hullah said: “There is no doubt that trade in our shops proved challenging when compared to exceptional results last year.”
Howard Archer, chief UK economist at Global Insight, said: “John Lewis department store sales are generally seen as a good bellwether for the health of consumer spending.
The full article contains 134 words and appears in Sheffield Star newspaper.
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Last Updated:
05 July 2008 10:25 AM
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Source:
Sheffield Star
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Location:
Sheffield
