While John Lewis reported an overall profit slump, it looks like its sales of consumer technology products and electrical goods are doing well.
Profit at John Lewis declined by 77 percent to £103.9 million in the year to the end of January. However, figures remain strong within its technology unit, which saw a 2.6 percent annual rise.
John Lewis Partnership chairman Sir Charlie Mayfield said the last year had been ‘challenging’, with ‘subdued’ consumer demand resulting from changing consumer habits combined with the weaker pound. “We expect trading to be volatile in 2018-19, with continuing economic uncertainty and no let up in competitive intensity. We, therefore, anticipate further pressure on profits,” the company said.
Market share increased within fashion, electrical goods and home technology, with tech sales up by 2.6 percent.
