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UK retail robust at Christmas says John Lewis CEO

Friday, December 16, 2011 - 03:28

Dec. 16 - British consumers will set aside their economic worries for Christmas says John Lewis CEO Andy Street, but sales will weaken in the New Year.

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London's West End the busiest shopping destination and you. -- the most -- doing Christmas period. When the 600 retailers on fox at street regent street and bond street look forward to a one billion pounds spending bonanza. The British shoppers or beleaguered bunch people's purchasing power is being put on the pressure by high inflation. Job security fears stagnant house prices and government austerity measures. The latest data show is retail sales in November fell more than forecast reversing some of October surprise gains. Retail analyst Richard perks of -- thinks the economic climates or as badly for the crucial Christmas trading period. Of that -- will be done good I think people of reluctance to increase of -- about a thing this year they've been paying off borrowings have been saved about mole. I think they will make shall have a good Christmas but it's not going to be a fantastic. But political figures make it that. Pessimists food -- thought. The latest data from sin of H retail performance -- shoppers have hit the high streets in force doing the first week of December. I'm with the 25 falling on a Sunday this in -- have a full week to purchase their presence before the big day. So up British retailers expecting a Christmas miracle although this be more like the nightmare before Christmas. John Lewis is Britain's biggest department store we've been traditionally a retail Bellwether. Last week it reported takings of 123 and a half million pounds the most -- ever taken in a single week. Managing director and the street remains optimistic. Intends the overlap the quick path to again just be realistic about -- BC's bill it's a bizarre stuff. I suspect that most retailers who -- will probably match lost this I was given this no effect we -- from Austria. This is not like highlight the -- -- pulling for -- Clearly it's tough to -- sales very tough to win market champ but he -- a stable. Environment. John Lewis has seen its numbers boosted by healthy uptake of its online services such as click and collect something about -- -- that performing in the market that. Which is -- to do without incident offer the convenience we'll let you know shops. There's also some into the about the market in whereabouts than perhaps we -- and now I think it's about the reach consumers as they've done in many as in the past. They had Christmas I really -- look after my friends and family if Christmas does persuade consumers to set aside their worries and live for the moment. What does this mean for retailers in 2012. We -- -- -- -- off inflation simply because the anniversary of the exe in January. On the food prices come down a bit as well that the squeeze on the because what it says Avaya. But have from the Begin to get any sort of sustained recovery that interest rates in public stock going up. So any recovery in the economy is gonna feel much like what consumers. Moving to the media will be back to. An emphasis on the big ticket purchases which are very much related to the housing market and they are obviously much much more -- down. Some real things I think C sales -- Christmas successful retailers. This is remains on the night. Countdown to the unit continues. It seems that maybe -- stones for them to whether it's twenty -- -- it's. The routines.

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UK retail robust at Christmas says John Lewis CEO

Friday, December 16, 2011 - 03:28