Wednesday 22 January 2020

Debenhams' outlook 'comfortable'

John Mulligan

John Mulligan

DEPARTMENT store chain Debenhams had a "resilient" finish to the first half of its financial year and remains comfortable with its outlook for the remainder of the year, the company said.

Releasing a trading update to the stock market yesterday that covered the 26 weeks to March 3, Debenhams said group-wide gross transaction value climbed 1.4pc including VAT and 0.3pc excluding the sales tax. In the eight weeks to March 3, like-for-like sales rose 2.4pc.

Debenhams said the final eight weeks' trading in the first half was helped by what it described as a successful winter sale and an "encouraging start" to the new season.

"Whilst it is prudent to remain cautious about the health of the wider economy and the impact this may have on consumer behaviour in the short-term, we remain comfortable with the outlook for the full year," said Debenhams chief executive Michael Sharp.

Debenhams operates 10 outlets throughout Ireland and has 170 outlets, including franchised units, across the UK, Denmark and other countries such as Armenia and the United Arab Emirates.

Irish Independent

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