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Debenhams posts profit increase - but warns of poor Irish sales

Britain’s second largest department store, which operates 11 outlets in the Republic of Ire...
Newstalk
Newstalk

09.59 16 Apr 2015


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Debenhams posts profit increas...

Debenhams posts profit increase - but warns of poor Irish sales

Newstalk
Newstalk

09.59 16 Apr 2015


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Britain’s second largest department store, which operates 11 outlets in the Republic of Ireland, has published better than expected first half profits generally, but emphasises that “the Republic of Ireland remains a challenging market.”

Pre-tax profits for the six-month period to the end of February increased by 4.3 percent to £89m, about £5m ahead of expectations.

The company doesn’t give a separate break-down for Ireland, which is included in its international division - but it stresses that operations here “represented a small part of the group,” the company says international profits rose by nearly 9 percent in general which offset lower profits in the Republic of Ireland.

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The company's broad upswing is being put down to investments that the company made to improve its product lines. This involved increasing the group's buying capability, and the enlisting of high profile designers and models to work with the company.

Michael Sharp, Chief Executive of Debenhams, said:

"I am pleased with the good progress we have made against the strategic priorities we set out last year. We have improved our multi-channel offer and successfully introduced the premium delivery options that we promised for the important peak period, which met with a positive response from our customers."

He continues: "Looking forward, our customers tell us they are feeling a little more optimistic about the economic outlook, but they remain cautious. Accordingly we are continuing to plan prudently in the near term, while remaining focused on our strategic priorities, and are continuing to invest to ensure that our business is well-positioned to drive sustainable growth in the longer term."


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