Debenhams to open 17 stores as sales pick up
DEBENHAMS yesterday revealed it is to open 17 UK stores next year and announced its first Christmas campaign in six years as the department store group posted a 1.6 per cent rise in like-for-like sales.
Chief executive Michael Sharp said the group plans to lure shoppers and bolster sales during the crucial Christmas trading period with a television, print and online advertising campaign, launching next month.
The announcement came as the retailer, which ranks behind rival John Lewis in terms of annual sales, reported a 4.2 per cent rise in pre-tax profit to £158.3m in the year to 1 September.
“The overall performance for the year was a very creditable performance given how challenging it was,” said Sharp, adding that the group had also grabbed market share from rivals across all categories, particularly in the 12 weeks to 2 September.
“Gains in women’s clothing were particularly pleasing because that market is notoriously competitive,” he said.
The group revamped 18 of its core UK stores in 2012 and aims to refurbish a further 30 this coming year, including its flagship site on Oxford Street. It aims to open 17 stores over the next five years, which could generate £150m worth of sales.
Sharp said yesterday that Debenhams UK presence was still “immature” and said there were a total of 70 markets it has targeted for new openings in the future.