John Lewis Partnership, the U.K. department-store chain owned by its employees, reported a 27 percent rise in trading for the week before Christmas and said it expects to have a strong clearance period.
Revenue in the week ending Dec. 22 increased to a record 157.8 million pounds ($255 million) compared with the same period last year, the London-based company said today in a statement. Online clearance sales, which began at 5 p.m. on Dec. 24, rose 70 percent in the first hour, the retailer said.
The results are “very encouraging ahead of our shops opening their doors tomorrow morning,” Managing Director Andy Street said in the statement.
All figures include value-added tax, John Lewis said.