Who is the High Street Olympics Winner?
With profits spiking by 60%, John Lewis, benefited from its status as the official department store of London 2012 which allowed it to generate sales linked to both the Olympics and Paralympics.
Both the Diamond Jubilee and the London Olympics and Paralympics helped both their 37 John Lewis department stores and 284 Waitrose supermarkets withstand tough economic conditions, although they did admit that consumer demand remained fragile.
Chairman Charlie Mayfield said: ‘Consumer demand remains fragile, but has stabilised and we continue to see opportunities to grow market share.’
He said among the reasons for the ‘excellent results’ was a longstanding focus on developing multi-channel operations and improving the efficiency of the business”.
Read the full article from the Daily Mail here