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John Lewis announces record Christmas sales

As we approach the latter end of the festive retail period high street giant John Lewis has today announced record takings of £102.4 million for the week to December 5. This is almost £1 million higher than the previous record set in 2007 although when you consider this performance against the economic backdrop at the moment it is even more impressive.

While takings have increased significantly over the last few weeks for companies such as John Lewis, with many having been fairly aggressive on pricing and promotions, it will be interesting to see how the profit margin for the group has been impacted. There is no doubt there have been massive giveaways from the likes of John Lewis although the increase in online sales should help to balance the potential reduction in the profit margin for off-line sales.

Companies such as John Lewis have been quick to spot the potential for online retail at a time when more and more consumers are looking for more and more value for money. It will be interesting to see whether the likes of Marks & Spencer, Next and other well-known UK retailers have performed as well or is this just a phenomenon attached to John Lewis?

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