Gift of a season for store
January 20, 2005
Department store group Debenhams said today it expected to report improved market share
and profits following the Christmas and New Year period.
The forecast came as the group - acquired by a
consortium of private equity companies for £1.7 billion in December 2003 - provided figures for the 13 weeks to November 27 showing an eight per cent rise in turnover to £518.5 million.
Debenhams said all its product categories performed well during the period, with demand for its Designers at Debenhams range particularly strong.
It was also helped by initiatives to improve its
supply chain, as the company was better able to keep shelves stocked and introduce newer products.
With like-for-like sales up six per cent, Debenhams said trading profits for the autumn showed a 42.8 per cent improvement to £57.1 million.
Chief executive Rob Templeman said sales and profits for the three months since November 27 were expected to show an improvement, with market share also up after the retailer "continued to trade strongly against the competition".
Industry research recently put the company's share of the department store sector at 15.8 per cent.
Debenhams has 107 outlets but could open up 20 more over the next four years.