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John Lewis sees sales growth slow after Brexit vote

Published 05/07/2016

John Lewis sales figures for the week to July 2 showed that sales rose 2.1%
John Lewis sales figures for the week to July 2 showed that sales rose 2.1%

John Lewis saw sales growth slow in the seven days following Britain's decision to leave the European Union.

The department store chain's sales figures for the week to July 2 showed that sales rose 2.1%, compared with 7.3% a week earlier.

John Lewis, considered a bellwether of consumer sentiment, took £90.7 million at the tills year on year, down from £96.7 million the previous week.

Sales at upmarket supermarket Waitrose, also part of the John Lewis Partnership, fell 2.8%, compared with the previous week's 0.7% decrease.

John Lewis said: "Summer clearance continued to attract customers into John Lewis shops and the cooler weather also played its part, with last week competing with 35C temperatures during the same week in 2015."

A number of reports have shown that consumer confidence has plummeted in the wake of the vote to leave the EU.

Prior to the vote, John Lewis chairman Sir Charlie Mayfield warned that an exit from the EU could lead to higher prices and hit consumer confidence.

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