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  1. UK’s John Lewis sees sales growth slow in week after Brexit vote

UK’s John Lewis sees sales growth slow in week after Brexit vote

British retailer John Lewis said sales growth at its department store chain slowed in the week to July 2 - the week following Britain's vote to leave the European Union.

By: | London | Published: July 5, 2016 4:40 PM
John Lewis said department store sales rose 2.1 percent year-on-year to 90.8 million pounds (9.3 million), having increased 7.3 percent in the previous week when it started its summer sale. (Reuters) John Lewis said department store sales rose 2.1 percent year-on-year to 90.8 million pounds (9.3 million), having increased 7.3 percent in the previous week when it started its summer sale. (Reuters)

British retailer John Lewis said sales growth at its department store chain slowed in the week to July 2 – the week following Britain’s vote to leave the European Union.

John Lewis said department store sales rose 2.1 percent year-on-year to 90.8 million pounds ($119.3 million), having increased 7.3 percent in the previous week when it started its summer sale.

The group’s upmarket supermarket Waitrose also saw sales fell 2.8 percent year-on-year over the week, having been down 0.7 percent in the previous week.

“Summer Clearance continued to attract customers into John Lewis shops and the cooler weather also played its part, with last week competing with 35c temperatures during the same week in 2015,” the firm said, making no mention of the referendum outcome.

The John Lewis Partnership is the only major British retailer to publish weekly sales updates and it is often seen as a bellwether of the high street.

Several surveys have shown a drop in consumer confidence since Britain voted to leave the 28-member bloc on June 23.

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