Debenhams to post sales rise amid tough times
Monday 24 June 2013
The department store chain Debenhams will this week warn that the fashion sector has endured tough early summer trading, although it is still expected to have grown sales.
Clothing retailers have had a spring and summer to forget so far after precious little warm weather, with three out of four running price promotions two weeks ago – the highest-ever reading for this time of year, according to the accountancy firm PwC. Debenhams is set to post like-for-like sales up by 2.9 per cent over the 16 weeks to 22 June, analysts at Cantor Fitzgerald said.
While this will be ahead of the most recent sales performance of its big rival Marks & Spencer, the City will scrutinise comments by the chief executive Michael Sharp on margins.
Debenhams blamed the snow in January for a profit warning but will this week reaffirm it will meet City expectations for reduced profits and boast that it has grown market share across men's, women's and children's clothing.
Cantor Fitzgerald forecasts that Debenhams will post lower profits of £152.3m over the year to August.
PwC said that 75 per cent of retailers were on promotion, such as three items for the price of two, a fortnight ago, which was up 2 per cent on last year and compares with just 40 per cent in 2009.
New essay by JK Rowling went live on Pottermore site on Friday
New UK station Russia Today gives a very bizarre view of Britain
- 1 Chinese authorities arrest 11 people over exhuming woman’s body to sell as corpse bride
- 2 Canadian actor punched in face after 'Islamophobia' experiment goes wrong in wake of Ottawa shooting
- 3 Woman blinded as a child can see again after hitting her head on a coffee table
- 4 Paul Hollywood: Police asked if I wanted them to arrest Mary Berry for vandalism after she 'defaced' my car
- 5 If you think Russell Brand’s new book is confused, you should read what his critics have to say about it
'Nasa Confirms Six Days of Darkness in December': No, they don't - it's a hoax
Tower of London poppies: Tens of thousands of people flock to see installation in its final days
Top Gear presenter Jeremy Clarkson criticised for beer tweet
Woman blinded as a child can see again after hitting her head on a coffee table
Bryan Adams' heartstopping images of wounded British soldiers to go on show at Somerset House
Pope Francis declares evolution and Big Bang theory are real and God is not 'a magician with a magic wand'
Huge surge in Ukip support after EU funding row, according to new poll
Ukip ‘exploiting grooming scandal’ to secure party’s first police chief
Nigel Farage: 'There’s nothing wrong with white people blacking up'
Maureen Lipman says 'she can't vote Labour while Ed Miliband is leader'
Muslims, immigration and teenage pregnancy: British people are ignorant about almost everything
iJobs Money & Business
£18000 - £23000 per annum + Comission: SThree: SThree, International Recruitme...
£20000 - £25000 per annum + OTE £35K: SThree: We consistently strive to be the...
£20000 - £23250 Per Annum pro rata: Clearwater People Solutions Ltd: Pro rata ...
£40 - 48k + Benefits: Guru Careers: We are seeking a Marketing Manager to join...