John Lewis sees sales growth of 8% in 2011

John Lewis Partnership, the U.K. department store chain, expects sales to grow around 8% in fiscal 2012, down from the 12.3% growth the company clocked up in fiscal 2011 but ahead of the dour retail forecasts that followed a snow-disrupted Christmas.

Retail director Andrew Murphy told Dow Jones in an interview Monday that the company is budgeting for sales growth of just below 8% for the year to Jan. 29, 2012, despite GDP figures showing weaker-than-expected economic growth.

Source : Kathy Gordon - Wall Street Journal