News: John Lewis post consecutive increase in profits

John Lewis posted a fifth consecutive week of rising store sales, benefitting from weak comparative sales and a new store opening. John Lewis are seen as a barometer of consumer spending in the UK, showing a 13% increase in sales to £54.6 million in the week to October 17. Fashion sales increased 19.3% while home technology and electricals increased 11.9% and sales in home products rose 9.9%. John Lewis also owns the 218- store Waitrose supermarket chain, which increased sales 14.3% to £84.6 million, underscoring its current position as the UK’s fastest growing grocer. (Reuters)

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