John Lewis sales lifted by Olympic gold rush

 
City A.M. Reporter
John Lewis, Britain's biggest department store group, posted strong sales growth last week, helped by a feel good factor that swept the nation during the second week of the London Olympic Games.

The employee-owned firm said today that department store sales jumped 14.9 per cent year on year to £60.75m in the week to 11 August, as consumers drew confidence to shop from Britain's haul of gold medals in the second week of the London Games.

"The final week of the London 2012 Olympic Games and the weekend celebrations certainly played a part in our success," the company said, noting that sales of sports merchandise almost trebled during the week.

John Lewis, the official department store provider to the London Games, said sales in its electricals and home technology category increased 22.2 per cent, with telecoms equipment selling especially well. Fashion sales rose 18.9 per cent, while sales in the home category were up 7 per cent.

John Lewis, which has a bias to the south east of England, has set the pace in the sector this summer, outperforming rivals as wet weather has driven footfall from the high street to the covered shopping malls where its stores are often located. Unseasonally cold weather is also favourable for its key household goods business.