John Lewis profits on the up
01-10-2007
Whilst other retailers are feeling downbeat about performances, John Lewis have pushed profits ahead by a stunning 50%, with strong results coming from their department stores and Waitrose it’s supermarket chain. Although inevitably trading will get tougher, chairman Charlie Mayfield predicts that the company will continue to grow, and can look forward to a good Christmas.
Growth over the first half was led by furniture, textiles and lighting. Bedroom, dining and upholstered furniture performed particularly well, the group said.
Fashion was also strong, with good growth in women’s occasionwear and tops.
Although chairman Charlie Mayfield warns that trading will get tougher, he predicts continued growth and says the group is looking forward to a good Christmas this year.
Retailers are, he said, “genetically programmed” to be nervous about Christmas. But he believes the group is well-placed for the festive season, which he views “with concern but also a lot of confidence”.
MH
