What: According to John Lewis, predictions of the death of the high street have been overstated, as online sales have fallen while store visits have increased.

Why it is important: This information indicates a potential shift in consumer behaviour and provides insight into the company's recovery plan and financial performance expectations.

Online transactions accounted for 57% of the retailer's sales in the past year, down from 81% during the height of the pandemic, while store customers were up 8% compared to the previous year. The increase in in-person visits can be attributed to events held by John Lewis, such as a kitchen disco hosted by singer Sophie Ellis-Bextor. The company also saw a 70% increase in tailoring sales, which require customers to visit stores for fittings.

Despite uncertainties in the economic outlook, John Lewis expects its full-year financial performance to improve compared to the previous year's pre-tax loss of GBP 77.6m.

John Lewis: Death of the high street predictions are ‘overstated’