Debenhams shakes off a soggy start with boost from Jubilee
Debenhams said yesterday the Diamond Jubilee had helped it deliver trading ahead of City expectations but the department store chain warned that the high street had not been able to recoup the clothing sales lost to the early summer's wet weather.
While the unseasonal rain has hit purchases of women's dresses, skirts and swimwear, it appears to have driven shoppers into department stores, instead of to the beach, park or garden centres, and Debenhams delivered a strong performance in its home, accessories and beauty categories.
Debenhams, which has 171 stores in the UK, the Republic of Ireland and Denmark, posted underlying sales up 3.1 per cent over the 16 weeks to 23 June, which marked a sharp improvement on the 1.2 per cent growth over the longer 42-week period.
Its chief executive Michael Sharp said: "For the Jubilee, there was definitely a gifting lift and a good performance in childrenswear because of the long Jubilee weekend, which coincided with half term." It benefited from increased footfall around Easter and Mother's Day.
Bethany Hocking, an analyst at Investec, said: "The sales result was much better than we, and the market, had feared." Total sales rose 3.9 per cent over the 16 weeks. However, Mr Sharp said it was "definitely too late" to recover summer clothing sales.
- 1 Rihanna 'nude pictures' claims emerge on 4Chan as hacking scandal continues
- 2 Kim Kardashian 'nude photos' leaked on 4chan weeks after Jennifer Lawrence scandal
- 3 'F*ck it, I quit': KTVA reporter Charlo Greene quits live on air in spectacular fashion
- 4 Free U2 album: How the most generous giveaway in music history turned PR disaster
- 5 Scotland could still declare independence – even without referendum, says Alex Salmond
Rihanna 'nude pictures' claims emerge on 4Chan as hacking scandal continues
Tesco in crisis: UK managing director among four executives suspended after exposure of accounting scandal
Kim Kardashian 'nude photos' leaked on 4chan weeks after Jennifer Lawrence scandal
'F*ck it, I quit': KTVA reporter Charlo Greene quits live on air in spectacular fashion
Alicia Keys leaks own nude photo 'to create a kinder and more peaceful world'
Scotland could still declare independence – even without referendum, says Alex Salmond
Scottish referendum results: Cross-party consensus collapses amid Tory-Labour spat on the 'English question'
Hilary Mantel 'should be investigated by police' over Margaret Thatcher assassination story, says Lord Bell
Scottish independence: David Cameron is becoming the 'George Bush of Britain'
Plebgate MP Andrew Mitchell called officer a 'little s**t', claim court documents 'exposing ex-Chief Whip's 'record of abusing police'
Archbishop of Canterbury admits doubts about existence of God
iJobs Money & Business
£65000 Per Annum Benefits + bonus: Clearwater People Solutions Ltd: If you are...
£20000 - £25000 per annum + OTE £40,000: SThree: SThree are a global FTSE 250 ...
£20000 - £25000 per annum + OTE £40000: SThree: As a Recruitment Consultant, y...
£20000 - £25000 per annum + OTE £40,000: SThree: SThree Group have been well e...