Debenhams share price: Group issues trading update

on Jan 13, 2015
Updated: Oct 21, 2019
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iNVEZZ.com, Tuesday, January 13: British department store chain Debenhams (LON:DEB) today released its trading update for the 19 weeks to 10 January 2015.

**Highlights from the company’s statement:**
• Strong performance in the key Christmas period: 4 weeks to 10 January
o LFL sales up 4.9%
o Online sales up 28.9%
• Record Group sales in the 7 days prior to Christmas
• Good performance on Black Friday within an existing Debenhams promotional event with sales in the week up 10.3%. Online orders on the day up 125%
• Good progress on the five priorities laid out at the Interims in April 2014

o 10 fewer days on promotion
o 12.1% increase in own bought full price sell-through
• Stock levels under control with terminal stock forecast at historically low levels

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Michael Sharp, Chief Executive of Debenhams, said: “I am pleased with our performance in the critical Christmas trading weeks, driven by our strength in a diverse range of product categories and a strong marketing campaign focussed on gifting. Our performance steadily improved following the well documented challenges in the clothing market in the autumn. We now have a competitive online proposition with next day delivery to home and next day click and collect, which customers took full advantage of and which performed well over Christmas. I would like to thank the whole Debenhams team for their tremendous efforts in delivering this performance.

“We continue to focus on building stable and sustainable profit growth and have made good progress on the five priorities we set out last year”.
**More to follow…**
As of 07:27 GMT, Tuesday, 13 January, Debenhams Plc share price is 75.05p.

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