What: British retailer John Lewis is "quietly optimistic" about its trading prospects leading up to Christmas, despite potential tax increases from the new Labour government's budget.

Why it is important: This optimism indicates confidence in consumer spending resilience despite economic uncertainties, and highlights John Lewis's strategic investments and performance ahead of crucial trading periods.

John Lewis, a prominent British department store retailer, has expressed cautious optimism about its trading outlook for the upcoming Christmas season. This sentiment comes amid concerns over potential tax hikes in the forthcoming budget presented by the new Labour government. Peter Ruis, the executive director of John Lewis, shared that both the John Lewis department store and Waitrose supermarket chain are currently performing better than anticipated in their Christmas plans. Speaking at a media event at their flagship store on Oxford Street, Ruis noted that while there is considerable media interest in the budget due to the new government, it typically does not significantly impact customer behaviour. Additionally, John Lewis has announced plans to invest GBP 800 million (USD 1.04 billion) in its brand over the next four years, signalling a commitment to strengthening its market position and enhancing customer experience.

John Lewis expresses cautious optimism for Christmas trading