High street retailer Debenhams has once again bucked the trend by reporting a 3.9 per cent growth in sales during the 16 weeks up to 23 June. The figures are particularly impressive when considered against a background of continuing economic uncertainty and poor weather conditions.
While other retailers have suffered as a result, Debenhams commercial properties performed well by delivering value for money around key dates such as Easter, Mother’s Day and the Diamond Jubilee celebrations.
During the period in question Debenhams increased its market share in key divisions such as womenswear which has seen a 10 basis point increase year on year. Online sales also grew by 34.9 per cent over the same period with visitor numbers up by 40 per cent.
These results are an endorsement of chief executive Michael Sharp’s strategy of focusing on UK retail, increasing choice through multi-channel delivery, compelling customer proposition and expanding the brand internationally.
Mr Sharp said; “Going forward there is little sign of recovery in consumer confidence so our focus will be the remorseless execution of the four pillars strategy to build a leading international, multi-channel brand which we believe will bring success irrespective of the wider economy.”
Over the same time frame Debenhams has demonstrated its commitment to high street trading by carrying out extensive modernisations to nine of its commercial property branches.
Those already completed are Middlesbrough, Preston, Harrow, Luton, Bournemouth, Colchester, Reading and Harrogate. Another in Chester is due to re-launch shortly.
In a further display of confidence work has commenced on nine more including Hull, Plymouth, Salisbury and Stoke-on-Trent.
Debenhams flagship retail commercial property in Oxford Street is also undergoing modernisation which is due to be completed by October 2013.
Debenhams also reports that it remains comfortable with the market’s current reported profit before tax expectations for the year as a whole.
