| View more details on this retailer : Debenhams |
| | | | 27/06/2013 | Telegraph, Szu Ping Chan - Sales at Debenhams stagnate as spring chill bites | | | | | Sales at Debenhams stagnate | | | | | According news in Telegraph, Debenhams has blamed the cold spring for stagnant sales in the third quarter, as the department store chain announced it would create 430 jobs as part of the transformation of its flagship London store.
Like-for-like sales at Debenhams were flat in the 16 weeks to June 22, the company said on Thursday, while same-store sales over the past 42 weeks rose 2.1pc.
In April, Debenhams said its online business had become more profitable than its stores for the first time, demonstrating the shift taking place in the retail industry towards e-commerce.
However, pre-tax profits remained in line with current market expectations of around £153m, reflecting a strong focus on stocks, margins and costs, the company said in a statement.
The retailer added that it would create 430 retail jobs through the transformation of its flagship store on Oxford Street, which is expected to open at the end of the year.
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