While this, along with a 15% increase in reported sales last week by Rolls-Royce and Bentley will bring seasonal cheer it is worthwhile noting how these figures really transpired.
The Asian region’s consumer, especially in China, is still living in some denial about the economic slowdown, and looking to scoop “trophy purchases” while they can.
For more mundane sales than cars, Fortnum & Mason has enjoyed stellar growth on account of both the wealthy tourist but also so-called “Comfort Sales”.
If Fortnum, Waitrose and other high end grocers have done well it is because consumers saved cash through the year to lavish at Christmas.
Whether those sales are sustainable for the next ten months remains to be seen.