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Saturday 30 August 2014

Sales boost means Debenhams will make year profit forecasts

Published 17/09/2013 | 07:32

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Ossie Clarke 'Liberty' dress in teal, €71.60, Debenhams; Blaithin Ennis cuff, €150, Kilkenny Shop, Nassau Street; Pearl box clutch, €85, gold sandals, €85, both Coast

DEBENHAMS will meet forecasts for 2012-13 profit as sales growth picked-up in its fourth quarter, Britain's second biggest department store group said today.

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The 200-year-old firm, which trails employee-owned John Lewis by annual sales, said sales at stores open over a year rose 2pc in the year to August 31.

That compares with a flat outcome in the 16 weeks to June 22, its fiscal third quarter, and was in line with analysts' forecasts.

Prior to the update analysts were on average forecasting a full year pretax profit of about £153m, down from £158.3m in 2011-12.

Forecasts had been cut after a profit warning in March that was blamed on January snow.

Reuters

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