Debenhams profits up 10% as it wins market share
Pre-tax profits at Debenhams increased by 10% to £1.66.1 million in the 53 weeks to 3 September as the company benefited from strong sales of its designer clothing ranges.
Total sales rose 2.9% to £2.68 billion, although like-for-like sales at stores open over a year were down 0.3% excluding VAT.
Michael Sharp, Debenhams chief executive said: "This is a strong signal that the UK high street is alive and well and we are backing it 100%. It also shows a very real commitment to our clear focus on growing our UK retail business."
The retailer said it had gained market share in most key categories and had grown its multi-channel offering through the launch of mobile shopping with apps for the iPhone, Nokia and Android, and a mobile website.
Debenhams announced plans to open nine new stores over the next four years, and revamp a further 25. It also said it plans to double the number of international franchise stores to 130 over the next five years.
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