Debenhams like-for-like sales down
Like-for-like sales in the first half fall after challenging trading conditions in January and February.
Gross margin for the first half is expected to be down year-on-year by some 20 basis points. This is largely due to price realignments in some ranges in the second half of last year, particularly in menswear. Terminal stocks are as planned and remain at historical levels Debenhams said. Commenting on the first half sales, Rob Templeman, CEO of Debenhams, said ‘Following a good performance over Christmas and the January sale, market conditions were tough through the remainder of January and February. Nevertheless, we are pleased with the response of customers to our new season’s ranges and to the improvements we have made in quality, design and value at all
price levels, as evidenced by our market share gains.
‘The macro economic climate leads us to expect the retail environment to remain challenging and we are therefore focusing on driving sales, gaining market share and controlling our stocks and cost base.’
