Partner Article

Debenhams out-paces forecasts

Retailer Debenhams beat analysts’ expectations with a near 20% rise in underlying profits to £123.6m in the first half of the year, figures revealed yesterday.

The figures, which showed like-for-like sales growth of 0.3%, come after last week’s better than expected figures from Marks & Spencer and British Retail Consortium data showing retail sales rose at their fastest pace in a year in March.

Debenhams blamed the subdued growth on disruption caused by a move away from concessions, which dented sales but boosted profits.It has been expanding its exclusive Designer at Debenhams ranges, which include clothing from Ted Baker, John Rocha and Jasper Conran, with new brands such as Principles by Ben de Lisi and H! by Henry Holland.

Speaking about the outlook for the retail sector chief executive, Rob Templeman said consumers had “more money in their pocket than they had two years ago”.

However, he also said: “We have got some headwinds coming, there’s no doubt about that.”

This was posted in Bdaily's Members' News section by Ruth Mitchell .