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John Lewis report sharp drop in early October sales

If you are looking for a reason for the sharp fall in the stock market today, look no further that the 7.6% decline in sales at John Lewis for the seven days to the 18th October. After battling gallantly to hold up the retail sector it seems that even the bell weather which is John Lewis has succumbed to the inevitable. Those who follow the markets will know that the groups issues weekly sales figures which give a great snap shot of what is happening on the UK high street.

This is the now the fifth consecutive fall in weekly sales and is a firm reminder that life on the high street for the big players is tough and probably even tougher for the smaller groups. While there were a number of factors which came into play, such as different timings for half term across the UK, they would not have had a massive impact on the figure. So what next?

Those that are still trading on the high street may well see more and more customers move online if they are not able to offer the correct goods at the lowest prices. Such is the competition in the sector that this could be the best Christmas ever for consumers who have money to spend.

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