RETAIL UPDATE: Debenhams reports full year figures

Net income and headline profit up, but like for likes dip slightly.
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Department store Debenhams has released its full year results for the period ending August 29th 2009.

Headline profit before tax was up 13.7 per cent to £125.2 million, while net income rose 23.3 per cent to reach £95.1 million.

Net debt was down by £403.7 million to £590.3 million, although like for like sales during the period dipped slightly by 3.6 per cent.

Debenhams' total fashion market share increased during the year, with the firm's focus on own bought ranges resulting in a strong performance, especially Designers at Debenhams.

"We are very pleased with the outcome for 2009, especially given the difficult economic and retail environment," said Rob Templeman, chief executive at Debenhams. "Achieving profit growth in these circumstances is, we believe, a creditable performance.

"The store space moves have now been completed and early indications are that customers are finding favour with the new ranges and departments. We look forward to further developments in our own bought ranges in 2010 and will continue to focus on improving the design, quality and value of our entire customer offer."


Debenhams gains ground

Like for like sales down slightly in interim results, but retailer makes gains in all major clothing categories.

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