23rd Jun 2016 17:02
LONDON (Alliance News) - Debenhams PLC, the department store, said Chairman Ian Cheshire spent GBP34,750 on shares in the company on Thursday.
In a statement, Debenhams said the chairman bought 50,000 shares in the company at 69.5 pence, taking his total to 450,000 shares, equivalent to a 0.0366% stake.
The purchase comes after Debenhams shares on Wednesday closed down 6.1%, after reporting that like-for-like sales fell 0.2% in the 15 weeks ended June 11. The company also cut its gross margin guidance for the full-year to flat, from a previously guided range of between zero basis points and 50 basis points. The UK trading environment has been weaker since the start of 2016, particularly in clothing, Debenhams said.
Shares in Debenhams closed down 2.6% at 67.89p on Thursday.
By Samuel Agini; [email protected]; @samuelagini
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