John Lewis has offered fresh evidence that the fallout from Black Friday deals in November has continued to distort trading as revenues in the week after Boxing Day jumped 9%.
This was considerably faster than the 5.8% rate seen during the rest of December.
Howard Archer, European and UK chief economist at research firm IHS Global Insight, said: “It is notable that the first week of the clearance sales saw a clear pick-up in sales growth while John Lewis’ strongest week of sales in the critical Christmas trading period came during Black Friday week when their sales surged 21.8% year-on-year to be at a record high of £179 million. Sales then fell back appreciably.”
The department store chain saw fashion and clothing leap 27% and homeware, such as furniture, was up 10% in the week to January 3.
However, electricals tumbled nearly 1%, which Archer suggested was a ripple effect from Black Friday as consumers sought out bargains because of “the prolonged squeeze” on earnings.
John Lewis managing director Andy Street warned this week that Black Friday had distorted the market and forced down prices. Sales at Waitrose, part of the John Lewis Partnership, rose 9% in the week to January 3.