07/02/12

John Lewis bucks downward trend

The financial squeeze on consumers hit niche retailers in December and January.

Several names disappeared from many Kent high streets, including Hawkin's Bazaar, brought down when the Tobar Holdings Group collapsed into administration. Forty out of 65 stores closed on December 30.

Retro retailer Past Times, lingerie chain La Senza, Peacocks clothing stores, Pumpkin Patch children's fashion stores, Blacks outdoor clothing and accessories retailer, Barratts and its Priceless Shoes operation all went into administration. Some were bought out in pre-pack deals while others found buyers who closed outlets and laid off staff.

HMV struggled in a tough market, while clothes retailer Next reported lower high street sales but higher online turnover.

But some supermarkets - Tesco apart - and departmental stores did reasonably well.

John Lewis led the charge by larger chains, bucking the downward trend by posting total sales of £596m in the five weeks to December 31, 9.3% up on the previous, snow-covered, period a year ago, and 19.1% up on two years ago.

Like-for-like sales rose 6.2% on the previous year and 14.4% on the same period two years ago. But online sales were up 27.9%, pushing annual sales through the £600m mark.

Andy Street, managing director, hailed an "outstanding" performance.