Department store group Debenhams has recently been voted 8th most favourably viewed brand by Marketing Magazine 2006, however their popularity didn’t increase like for like sales, which dropped by 4.2 per cent since September. Group turnover increased by 6.6 per cent to £2.19 billion. Debenhams has been trialing a compact version called Desire by Debenhams which is mainly aimed at the female market with designerwear and cosmetics which will have boosted profits. The group is no longer solely a retailer, other ventures include Debenhams Finance, Debenhams Mobile and a travel money scheme.
Underlying sales performance has been poorer than expected during the recent return to the stock market by Rob Templemen. The existing final salary pension scheme is also to be axed following ‘financial strain’ on the company. Debenhams is accelerating plans to expand their portfolio of department stores, either by acquisition or new store openings, and believe there is potential to increase their portfolio from 132 up to 240 stores in the UK and Republic of Ireland. Total sales for the company increased by 7 per cent and margins are expected to improve until the end of the financial year.
Click Here: gws giants guernsey 2019