Sales bounce for big-name stores

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John Lewis's sales rose 5.9% in the week to 12 July - the first positive weekly figures for two months.

The company said it was a "super result" and was especially pleased about the Oxford street store, where sales jumped 11% on the same week a year ago.

Meanwhile, selfridges has ended its sale and installed next season's window displays. Chief executive Paul Kelly said takings were well ahead of schedule, adding: "You could argue that our sale should be on for the next month in this climate."

But Howard Archer, economist at Global Insight, said: "The rebound in John Lewis sales does not alter our view that consumers are tightening their belt. The improved performance occurred during John Lewis's clearance sale."