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		</div><p><a href="http://londonglossy.com/wp-content/uploads/2011/01/john-lewis-reports-41-sales-rise.jpg"><img class="alignnone size-full" title="John Lewis has reported a rise in department store sales during its first full week of trading with VAT at its higher rate" src="http://londonglossy.com/wp-content/uploads/2011/01/min-john-lewis-reports-41-sales-rise.jpg" alt="John Lewis has reported a rise in department store sales during its first full week of trading with VAT at its higher rate"/></a></p>
<p>John Lewis has reported a 4.1% increase in department store sales during its first full week of trading with VAT at its higher rate of 20%.</p>
<p>The haul of £55.8 million for the week to last Saturday represented a slowdown on the 38.7% rise seen the previous week when the chain benefited from an additional bank holiday and a surge in business prior to the VAT hike.</p>
<p>Company officials described the latest week of its clearance period as positive but admitted it was helped by comparisons with the snow disruption experienced a year earlier. Excluding VAT, sales were 1.9% higher in the week.</p>
<p>Freddie George, a retail analyst at Seymour Pierce stockbrokers, said the latest figures from John Lewis were broadly in line with expectations.</p>
<p>He added: &#8220;As yet, there has been no sign of any slowdown in sales as a consequence of the VAT rises, or the impact of higher prices on consumer&#8217;s spending habits.&#8221;</p>
<p>John Lewis said fashion and home sales did well last week, up 5.5% and 4.9% respectively. The group&#8217;s Reading store produced the strongest growth, up 10.7% on a year earlier, while Cardiff posted an improvement of 9.7%.</p>
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