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 Keira Knightley topless: Usually conservative actress does own take on #Freethenipple campaign for Interview Magazine
- 2 Oil tanker with $100 million cargo goes missing off Texas coast
- 3 George Galloway left with severe bruising after attack in Notting Hill by man 'shouting about the Holocaust'
- 4 Saudi Arabia executes 19 in one half of August in 'disturbing surge of beheadings'
- 5 Brother and sister, Christopher Buckner and Timothy Savoy, arrested for 'committing incest after watching 'The Notebook''
YouTube video posted by Isis militants shows 'execution of 250 Syrian soldiers'
Keira Knightley topless: Usually conservative actress does own take on #Freethenipple campaign for Interview Magazine
Oil tanker with $100 million cargo goes missing off Texas coast
George Galloway left with severe bruising after attack in Notting Hill by man 'shouting about the Holocaust'
Lady al-Qa’ida: On the trail of Dr Aafia Siddiqui, the world’s most wanted prisoner
Robin Williams Emmys tribute led by Billy Crystal criticised for including 'racist' joke about Muslim woman
The Rotherham child abuse scandal is a tale of apologists, misogyny and double standards
What do immigrants really think of Britain? Polish immigrant's Reddit post goes viral
Scottish independence TV debate: Pumped-up Alex Salmond bounces back in bruising second round against Alistair Darling
Do you realise just how foolish the UK looks?
With Douglas Carswell joining Ukip, my party has taken another giant step forward
- < Previous
- Next >
iJobs Money & Business
£35000 per annum: Harrington Starr: Network Engineer (CCNP, CCNA, Linux, OSPF,...
£50000 per annum: Harrington Starr: DevOps Engineer (Systems Administration, L...
£60000 - £70000 per annum: Harrington Starr: A prestigious leading professiona...
£50000 per annum: Harrington Starr: Financial Technical Consultant (C++, C#, F...