LONDON (Alliance News) - John Lewis of Hungerford PLC said on Wednesday its sales growth for the first half of the current financial year was lower than expected, with sales broadly in line with last year.
The kitchen, bedrooms and furniture retailer said in a statement before its annual general meeting it was expecting to post sales of GBP3.6 million for the first half of its financial year, in line with the corresponding period last year.
It said there was a strong conversion of its order book into reported sales, which would be taken into account in assessing year-on-year sales trends, but said the figures came in below expectations.
John Lewis of Hungerford said, in light of the disappointing growth, it would be reviewing its investment programme and providing an update on February 28, alongside its interim results.
John Lewis of Hungerford shares were up 4.5% at 1.36 pence on Wednesday.
By Hannah Boland; hannahboland@alliancenews.com; @Hannaheboland
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