RETAIL UPDATE: Debenhams continues to win market share

First half trading update shows department store taking ground from its competitors in all major categories.
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Department store chain Debenhams has released its trading update for the 26 weeks ending February 28th.

Gross transaction value for the period was 0.3 per cent higher than the prior year, despite challenging conditions across the retail sector. Notably, Debenhams has continued to take market share from its competitors in all major product categories, a trend which has prevailed for 18 months.

Excluding VAT, like for like sales for the period were 3.6 per cent lower than last year.

Own bought ranges and particularly the Designers at Debenhams ranges continue to deliver sales growth.

"We are pleased with our performance during the first half of the year given the extremely difficult trading conditions experienced across the High Street," said Rob Templeman, CEO of Debenhams. "We have continued to grow our top line and to take market share as consumers increasingly recognise the great value in terms of quality, price and design that our products and especially Designers at Debenhams deliver.

"Visibility for the second half remains poor and we will continue to run Debenhams in the expectation that the trading environment will remain challenging."

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