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Bellwether John Lewis Sales "dramatically" Down

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John Lewis weekly sales growth slows sharply
7:51, Friday 21 January 2011
LONDON (Reuters) - Sales growth at department store chain John Lewis slowed dramatically last week as consumers tightened their belts after spending freely in the post-Christmas sales.

A dramtic collapse in sales should be a good contraboost for the FTSE. Let's have a look and see if the market reacted in that way as it is a great indicator of forward earnings generally......click, tap tap.click:

FTSE 100 5,897.07 +29.16 +0.50% :lol:

Consumers are cutting spending meaning less earnings--BUY BUY BUY!!!!! This is an indication that recession is ahead: BUY BUY BUY!!!

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Not John Lewis!

I am convinced that most in London think JL is still just one single store in Oxford Street which has been having amazing sales growth.

They seem oblivious to the fact that JL has been busy opening up stores all over the country and much of their growth has been from those as people in places like Cardiff think it is posh to shop at JL.

Once that passes I would expect their sales to decline anyhow.

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