John Lewis profits surge
John Lewis has experienced double-digit growth in the year to 29th January 2011.
Sales were ahead of expectations, rising 11.9 percent to £3.23 billion. Online, the John Lewis website recorded a 37.9 percent jump in sales to £538.2 million. Operating profit was up by 22 percent to £201.2 million.
Overall, the John Lewis Partnership, which also includes Waitrose, saw group sales rise 10.6 percent to £8.21 billion and group operating profit climb 10.6 percent to £431 million.
Charlie Mayfield, Chairman of John Lewis Partnership, commented: "The Partnership has achieved market-beating sales growth and a healthy increase in profits.It's the result of our 76,500 Partners' determination to give customers the best possible shopping experience. We have renewed our commitment in both Waitrose and John Lewis to improving the value we offer to customers and broader ranges and innovative marketing have attracted more customers and boosted our market share."
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