A year after going private, department store retailer shows glowing yearly figures
Debenhams has saluted its accelerated store openings programme, improved stock turn and greater customer focus for helping it to deliver a strong year-on year growth for the 52 weeks ended August 28.

The results show the success of bringing the retailer into private ownership, following its acquisition by CVC capital partners, Texas Pacific Group and Merrill Lynch Global Private Equity in December last year.

The retailer's turnover increased 5.1 per cent to£1.9 billion, compared with the same period a year ago. Like-for-like turnover rose 1.6 per cent. Pre-tax profit for the period was£300.5 million, a staggering 119 per cent rise on the previous year.

Debenhams chief executive Rob Templeman said: 'We are particularly pleased with the strong underlying sales performance in the second half of the financial year, following acquisition. Our powerful brand, loyal customer base, merchandising and format trials, and new store openings programme demonstrate the growth potential for the group.'

In the 38 weeks after the acquisition, to August 28, the retailer increased like-for-like sales by 2.5 per cent.

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