The difference between sales and profit

Imagine my surprise when reading the Evening Standard on the way home yesterday to read a headline on the front page ‘John Lewis feels the pinch as sales fall be a third.’ Goodness there must be one hell of a sale coming up I thought. I know the credit crunch is bad but surely not that bad. Then on turning to the article I find the headline ‘John Lewis is feeling the pinch as profits fall be a third.’ The economic climate might change but the good old British media is as inaccurate and ignorant as ever.

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