Nov 21, 2008
For the first time since the website was established in 2001, John Lewis has seen a decline in it 's online sales. The online operation saw sales drop 8.8% last week compared to the same period last year.
Overall sales for the group were down a huge 14%, the the ninth consecutive weekly decline. This downturn outlines the problems retailers are currently facing, and shows that an online presence does not mean immunity.
Terry Duddy, chief executive of Argos and Homebase group HRG, said trading conditions were the worst he had witnessed in 25 years and Debenhams' deputy chief executive, Michael Sharp, told a London conference that the retail sector "is staring into the face of the worst Christmas we have ever had".
Overall sales at the group, regarded as a bellwether for the high street, were down by a startling 14% - the ninth consecutive weekly decline.
Last week the IMRG showed the extent of the current economic slowdown hitting online retailers. It said internet expenditure in October was up 12.7% - the smallest increase since December 2004. Twelve months ago growth was running at more than 70%.
Robin Terrell, the managing director of John Lewis Direct, said fashion sales at the department store's web operation had increased more than 100% but trade in homewares and electricals had gone into decline.
Digg
Reddit
Delicio.us
Sphinn
Furl
Magnolia
StumbleUpon
Google
Facebook