Debenhams – decline in like-for-like sales
Permalink: Debenhams – decline in like-for-like sales by Kay Murchie
Debenhams, the department stores group, has announced a 5% decline in like-for-like sales for the 12 months to September 1. However it anticipated that underlying pretax profit is to be in line with market expectations, the group said.
Rob Templeman, Chief Executive, said in a trading update that the retail environment will be a testing time in the short term but the actions the group has taken across the business will put them in a good position for the new financial year.
Debenhams has a chain of department stores based in the UK and has been listed on the London Stock Exchange since 1928 and is a constituent of the FTSE 250 Index.
Debenhams grew significantly throughout the 1990s and now has a total of 135 stores in the UK and Ireland. New stores have recently opened in Gateshead, Hemel Hempstead and Hertfordshire.
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