Debenhams profit tops expectations

Department store group Debenhams said gross transaction value was up 8.4 per cent in the half-year to 27th February.

Like-for-like sales were up by 0.3%, with the shift from concessions selling designer labels such as Ted Baker and Lacoste to sales of own label clothes having a 1.5% negative impact on sales, Debenhams said.

The company said that sales of own bought clothing climbed by 9.4% in the six-month period, with concession sales declining by 22.5%. Within own bought products, sales of ‘Designers at Debenhams’ clothing climbed by 17.7% to £282.1m.

‘Throughout the last 18 months of recession, Debenhams has consistently achieved growth in sales, margins and trading profits,’ said chief executive Rob Templeman.

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