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Debenhams remains comfortable with forecast for full year

Debenhams has reported that gross transaction value for the 26 weeks to 3 March rose by 1.4%. A 2.4% boost in like-for-like sales in the final eight weeks of the period resulted in group like-for-like sales growth of 0.3%, excluding VAT, for the period as a whole.

CITY & CORPORATE

Debenhams remains comfortable with forecast for full year

Debenhams has reported that gross transaction value for the 26 weeks to 3 March rose by 1.4%. A 2.4% boost in like-for-like sales in the final eight weeks of the period resulted in group like-for-like sales growth of 0.3%, excluding VAT, for the period as a whole.

Debenhams said the rise in sales in the eight weeks to 3 March had been helped by a successful winter sale as well as by an encouraging start to the new season. The retailer said the spring marketing campaign under the "Life Made Fabulous" theme launched in mid-February had been well received by customers.

Commenting on the trading Michael Sharp, chief executive of Debenhams, said: "Our priority in the second half is to continue executing our strategy, centred on the four pillars of focusing on UK retail, delivering a compelling customer proposition, increasing availability and choice through multi-channel and expanding the brand internationally.

"Whilst it is prudent to remain cautious about the health of the wider economy and the impact this may have on consumer behaviour in the short-term, we remain comfortable with the outlook for the full year. Over the medium-term, we are confident of the benefits that our strategy will bring to Debenhams."

The retailer operates from 167 stores in the UK, Ireland and Denmark and has over 60 franchise stores in 24 international markets.

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