Snapshot of Christmas trading

18 January 2007
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18 January 2007 | Antony barton

Shares in photographic retailer Jessops fell by 15 per cent after the firm admitted to poor Christmas figures, attributing this in part to supply shortages.

Department store chain John Lewis, however, said supply chain and delivery operations helped boost sales over the same period.

Jessops said that demand for digital SLR cameras was strong over Christmas and the company was unable to satisfy it due to major worldwide supply shortages on the most popular models from Nikon and Canon. It added it was working closely with both manufacturers to overcome supply issues.

The shortage contributed to a drop in shares by 22.5p to 126.5p.

The six weeks to 5 january showed a 6.9 pr ent drop in like-for-like sales.

The impact of supply problems and softness of the market led the board to take a cautious view of the year.

John Lewis, however, recorded an increase of 10.8 per cent in like-for-like sales in the five weeks to 6 January.

The chain said: "These results reflect an all-round successful performance, with great product and value, underpinned by continued progress in service, the supply chain and devliery operations, with significant improvements in availability."

SMjan2007

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