Debenhams performs well in tougher market
Department store group remains cautious on outlook
January 14 2003
Department store operator Deebenhams has reported a total sales increase of 4.8 per cent in the 19 weeks to January 11.
Like-for-like sales were up 2.8 per cent putting Debenhams ahead of rivals such as House of Fraser in what has been a difficult trading period for fashion retailing, and department stores in particular. However, the figure were below City expectations.
Debenhams chief executive Belinda Earl said: “‘We are pleased to report positive sales growth since the beginning of the financial year against strong comparatives last year. This performance demonstrates that our strategy to give customers value for money across a unique choice of brands and products continues to deliver resilient results.
“We achieved good sales growth in the key Christmas trading period particularly in gifts, cosmetics, accessories, young fashion and Designers at Debenhams. Despite heavy pre-Christmas discounting on the high street, we started our sale as planned on 26 December 2002 and it has had an encouraging start.”
Earl added: “Looking forward, we remain cautious about the economic outlook for the UK consumer.”
