12th Jan 2016 07:30
LONDON (Alliance News) - Debenhams PLC on Tuesday reported growth in like-for-like sales in the first 19 weeks of its financial year, and in its Christmas trading period, as it benefited from less discounting and a reduction in stock levels.
The FTSE 250-listed department store operator said group like-for-like sales in the 19 weeks to January 9 grew 1.9% on the same period the year before, rising 1.8% in the seven weeks to the same date.
Debenhams said it made further progress on its strategic priorities which helped to deliver a strong trading performance and record sales in the Christmas week. Less discounting and a lower level of promotional activity led to full-price sales growth of 5.0%, supported by a planned reduction in stock levels, particularly in weather-sensitive clothing categories.
Black Friday also traded well, Debenhams said, with good year-on-year growth both in store and online.
Debenhams added that it remains on track to deliver full-year profit for the year ending end-August in line with market expectations.
By Karolina Kaminska; [email protected] @KarolinaAllNews
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