Debenhams see rise in profits
The high street retailer Debenhams has recorded an 18.6% rise in their half-year profits today and expects this to continue throughout 2010. The nationally renowned retailer has 164 stores across the UK and recorded a rise in profits of £19.4 million compared to this time last year. This rise saw their pre-tax profits jump to £123.6 million in the 6 months leading to the end of February, despite the plummet in business the UK witnesses during the snow in January.
The store also reported a 0.3% rise in their like-for-like sales and a rise of 8.6% in their gross transactional values.
The store has put a vast majority of their success down to their Designers at Debenhams lines, which include a number of renowned designers. Their reports show that while menswear and childrenswear saw a rise in sales, womenswear struggled with a variety of stores reporting under performance.
These reports favour the company strongly as they have opened four new stores this year and have plans to open 2 more in the later part of this year.
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