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18 September 2012 10:28
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Department store Debenhams has beat City expectations with a rise in sales following a summer that was less than kind to its competitors.The company reported a 3.7% jump in like-for-like sales excluding VAT in the 10 weeks to September 1st, benefiting from strategic initiatives such as its store modernisation programme, its Life Made Fabulous TV advertising campaign and overseas expansion. Online growth of 40% and an improved share of the under-pressure womenswear market were also hailed as part of the company's success, which marks an improvement on the previous 16 weeks and came despite the company's earlier warning that the Olympics could disrupt trading. Singer Capital Markets analyst Matthew McEachran said: "We don't believe that Debenhams experienced much a drag if any from the summer Games."
