LONDON: Britain’s No. 2 department store chain Debenhams said underlying sales rose slightly in its latest trading period, as it shifted its strategy to have fewer days on promotion.
The company, which trails John Lewis in annual sales, said on Friday sales at stores open over a year rose 0.7 percent in the 14 weeks to June 7. Debenhams’ strategy is to refocus promotional activity to deliver a higher level of full price sales.
Debenhams maintained its margin guidance for the full year.
First half gross margin fell 100 basis points and in April the firm guided for the full-year to be down 50-70 basis points.
Debenhams has endured a tough 12 months, issuing its second profit warning in less than a year in December and losing its finance chief after a long-held strategy of pushing promotions failed to boost its crucial Christmas sales.
Reuters
