Littlewoods sales up

Littlewoods Shop Direct Group and Findel have bucked the trend of bad results for retailers, posting improved sales figures over the holiday period. They join a small group of retailers, including John Lewis and J Sainsbury, able to find growth in spite of declining consumer confidence over the new year. Littlewoods, owned by the Barclay brothers, said that in the six weeks to January 4, home shopping sales increased by 7 per cent. The company, which has an annual turnover of about £2bn, added that stock levels were 10 per cent lower than last year but gross margins were maintained. Littlewoods' online divisions saw sales growth of 44 per cent. Boosting online sales is a key part of its five-year turnround plan pioneered under Mark Newton-Jones, the chief executive. 'This peak period has further demonstrated that customers would rather shop from home as opposed to battling it out on the high street,' he said.