UK: Sales surge lifts John Lewis H1 profit by 60%
- Group H1 pre-tax profit jumped 59.8% to GBP144.5m
- John Lewis chain revenues up 12.9% to GBP1.3bn
- Like-for-like sales up 9.2%
Department store and supermarket operator John Lewis Partnership Plc has seen its first-half pre-tax profits soar by nearly 60%, as revenues rose on the back of events such as the diamond jubilee and the lead-up to the London 2012 Olympics.
The group today (13 September) said pre-tax profits jumped 59.8% to GBP144.5m (US$232.8m) in the six months to the end of July, with revenues at its 37 John Lewis shops and 284 Waitrose supermarkets up 8.6% to GBP3.9bn.
37 John Lewis shops across the UK (29 department stores and eight John Lewis at home), johnlewis.com and 284 Waitrose supermarkets
Revenues at its John Lewis department store chain, which sells clothing, homewares and electrical goods, climbed 12.9% to GBP1.3bn, with like-for-like sales up 9.2%. Operating profit surged 188.6% to GBP45.6m.
Chairman Charlie Mayfield said gains at the John Lewis chain were helped by a series of collaborations with designers such as Alice Temperley and its multi-channel sales focus, which helped lift fashion sales by 7.2%.
Despite "fragile" consumer demand, the retailer said it has seen a good start to the second half, with like-for-like sales in the first six weeks up 8.5% at John Lewis. That said, it expects growth to be slower in the period.
From toxic T-shirts to virtual fitting rooms, defamatory garments and compostable shoes, the clothing and textiles industry in 2012 was anything but dull....
Retailer Marks & Spencer has reported worse-than-expected Christmas trading figures, with a poor performance in its general merchandise business - which includes clothing and footwear - offsetting str...
UK department store operator John Lewis has recorded a jump in full-year profit fuelled by online growth....
Department store operator John Lewis is set to cut a number of jobs in its stores as it looks to "streamline management structures" in some of its stores. ...
- Under Armour on track with new UAS sportswear line
- Myanmar garment exports surged 20% in 2015
- EU trade ministers push on TTIP and Canada pacts
- Why synthetic fibres are a safe bet for the future
- What does the future hold for world wool supply?
- US retailers urge action on Hanjin Shipping crisis
- Zara launches eco-friendly Join Life collection
- Adidas unveils first Speedfactory running shoe
- Bangladesh calls for US duty-free apparel access
- Ascena Retail disappoints amid challenging year
- Too Many Standards
- Apparel (GLOBAL) - Industry Report
- Southeast Asia strategic sourcing review – a focus on Cambodia, Vietnam and Myanmar
- Ralph Lauren Corporation : Retailing - Company Profile, SWOT & Financial Analysis
- Central America strategic sourcing review - a focus on Guatemala, El Salvador and Honduras