Debenhams has reported pre-tax profits up 11.5 per cent in the year to September 1.
The department store group’s like-for-like sales were down 5 per cent, but comparable store sales for the seven weeks to October 20 rose 2.1 per cent.
Pre-tax profit was£131.4 million, compared with£117.9 million the previous year. Total sales rose by 5.1 per cent to£2.3 billion.
Debenhams chief executive Rob Templeman said: “Despite wider concerns about the macroeconomic environment and how this will impact on the retail sector, we are confident that the changes we are making throughout Debenhams are benefiting the business.
“Our new autumn/winter ranges are being well-received and this, together with the refitting of stores and previous investment in a new IT platform and distribution centre, is improving the customer experience.”
This year, Debenhams has added 792,000 sq ft (73,575 sq m) of space, including the acquisition of nine Roches stores. It also opened eight stores, including five Desire outlets and one resite. The retailer plans to open 29 shops over the next four years.
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