John Lewis sales rise but profits to take hit from price matching
The company said it had recorded gross sales of just over £1 billion in the six weeks to December 30, which reflected a 3.1 per cent increase on previous year.
Sir Charlie Mayfield, chairman of the John Lewis Partnership, says: "The pressure on margin seen in the first half of the year has intensified because of our choice to maintain competitive prices, despite higher costs mainly due to the weaker exchange rate".
For the six-week period as a whole, fashion and electrical and home technology sales rose around 5 percent, but sales in its home departments dipped 0.3 percent as customers were cautious about bigger purchases.
Looking ahead to 2018/19, he said the Partnership expects trading to be volatile due to the economic environment but is well placed to continue building the strength of its two leading brands.
The partnership's top line growth was dragged down by a slower expansion at Waitrose, where sales at stores open more than one year climbed 1.5 per cent. JLP said that if the period had included New Year's Eve, as it did last year, like-for-like growth would be around 2.1p per cent.
Ribery: I want to stay at Bayern Munich
Bailey hit the crossbar early in the second half after turning Niklas Suele one way and then another, before Thomas Mueller went close at the other end.
7-year-old in Pakistan was raped and killed
Note that when the little girl was abducted, her parents were out of town and returned hurriedly when her absence was noticed. The police, however, clarified and said that the person, who could be seen in the footage is just a "person of interest".
Archer-Daniels-Midland Company (ADM) Issues Earnings Results
The price earnings ratio (P/E) ratio helps investors analyze how much they should pay for a stock based on its current earnings. Oppenheimer Asset Management Inc increased Archer Daniels Midland Co (ADM) stake by 20.09% reported in 2017Q3 SEC filing.
JOHN Lewis enjoyed a 3.6 per cent uplift in gross sales over the festive period while department store rival House of Fraser saw in-store sales decline by 2.9 per cent and online sales fall by 7.5 per cent.
John Lewis celebrate record Black Friday trading past year, but the group said it has a gloomy outlook on the United Kingdom economy in 2018.
John Lewis Partnership will report its full year results ending January 27 on March 8.
John Lewis saw its busiest ever Black Friday sales - a growing phenomenon in Britain - but that price competition over the period was also rising. "To retain its reputable position, John Lewis must bring newness and innovation across all its categories, as well as engage consumers through services and a premium instore experience".
Recommended News
-
13 January 2018Jennifer Lopez Returns to 'Will and Grace' in Two Different Roles
After an eight-season run that ended in 2006, the incredibly popular sitcom returned for an additional two seasons in 2017. NBC are yet to have revealed further details about what Jennifer will get up to in her forthcoming "Will & Grace" cameo.Investment Research Analysts Opinion: Universal Display Corporation (OLED), Endeavour Silver Corp. (EXK)
Timessquare Cap Mgmt Ltd Liability Com has 0.23% invested in Universal Display Corporation (NASDAQ:OLED) for 269,600 shares. Needham & Company LLC reissued a "hold" rating on shares of Universal Display in a report on Friday, November 3rd.
13 January 2018Trump lawyer claims Russian Federation dossier defamed him, sues BuzzFeed and Fusion GPS
BuzzFeed published the dossier in January 2017, noting that the allegations were unverified and the report contained errors. BuzzFeed's editor-in-chief, Ben Smith , defended the decision to publish the dossier in a New York Times op-ed. -
Barnes & Noble, Inc. (BKS)
On Monday, July 27 the stock rating was initiated by Craig Hallum with "Buy". (NYSE: BKS ) on Friday, December 1 to "Hold" rating. The regular trading started at $5.25 but as the trading continued, the stock escalated, settling the day with a gain of 1.92%.EPS Growth at Forefront For Host Hotels & Resorts, Inc. (NYSE:HST)
Staying on top of longer-term price action may help provide investors with a wider range of reference when doing stock analysis. The VC1 is calculated using the price to book value, price to sales, EBITDA to EV, price to cash flow, and price to earnings.Goodyear Tire & Rubber Company (GT) Announces Earnings Results
The stock of The Goodyear Tire & Rubber Company (NASDAQ:GT) has "Hold" rating given on Wednesday, March 30 by Standpoint Research. The stock of The Goodyear Tire & Rubber Company (NASDAQ:GT) has "Hold" rating given on Friday, February 24 by Jefferies. -
13 January 2018Guardiola breaks Premier League record with fourth straight award
They have kept nine clean sheets in their last 13 league games at Anfield . That has seen a return of just three goals and three assists.Hot Stocks For Today: Eldorado Gold Corporation (EGO), Crocs, Inc. (CROX)
Moving averages can help smooth out these erratic movements by removing day-to-day fluctuations and make trends easier to spot. Some investors will go to greater lengths, such as making sure that they have a good reason behind every buy or sell decision.
13 January 2018McSally makes it official: She's in Senate race
Falcon said she hopes Latinos in the state will work hard to support a better candidate for the general election. Trump pardoned Arpaio last August, setting off a firestorm of controversy. -
Bollard Group LLC Has $10.59 Million Position in Altria Group Inc (MO)
It is negative, as 91 investors sold MO shares while 516 reduced holdings. 118 funds opened positions while 420 raised stakes. Contrarius Investment Management Ltd sold 474,228 shares as the company's stock rose 12.30% with the market.
13 January 2018Scientists find thick sheets of ice just below Mars' surface
Image shows modern Mars (left) dry and barren, compared with the same scene over 3.5 billion years ago covered in water (right). Since there are few craters on the surface at these sites, the authors propose that the ice was formed relatively recently.
13 January 2018Tottenham chairman Daniel Levy rules out sale of key men
Mauricio Pochettino has restored hope to the Tottenham faithful after a run of three wins and a draw from their last four games. Tottenham chairman Daniel Levy has told Sky Sports he is "100 percent confident" of keeping the club's biggest names.
