Lewis Group Limited announced sales results for the third quarter and nine months ended December 2022. Merchandise sales for the third quarter to December 2022 declined by 1.1%, with sales in the traditional retail business consistent with the prior period and UFO sales 9.9% lower. Credit sales for the three month period were 17.3% higher while cash sales reduced by 20.7%.

The group's total revenue, comprising merchandise sales and other revenue, increased by 2.8% for the nine month period. The company increased merchandise sales by 2.0% in the nine months to December 2022 as widespread inflationary pressures, rising interest rates and record high unemployment levels curtailed consumer spending. Credit sales, which accounted for 58.3% (December 2021: 50.9%) of total sales, increased by 16.8% while cash sales declined by 13.5%, reflecting the mounting pressure on consumer disposable income. Sales in comparable stores grew by 0.4% for the nine month period.