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| Tough trade hits Debenhams sales | |
| (10 minutes later) | |
| Department store group Debenhams has reported a fall in half-year sales in the face of "challenging trading conditions across the retail sector". | Department store group Debenhams has reported a fall in half-year sales in the face of "challenging trading conditions across the retail sector". |
| For the six months to 28 February, the firm saw same-store sales - which pulls out the impact of new shop openings - decline 3.6% from a year earlier. | For the six months to 28 February, the firm saw same-store sales - which pulls out the impact of new shop openings - decline 3.6% from a year earlier. |
| Despite the drop in sales, Debenhams said its pre-tax profits would be higher than a year earlier. | Despite the drop in sales, Debenhams said its pre-tax profits would be higher than a year earlier. |
| It said this was down to cost cutting and tighter stock management. | It said this was down to cost cutting and tighter stock management. |
| Profit focus | |
| Overall sales at Debenhams stores were up 0.3% over the six-month period, and the retailer said that it had continued to take market share from its rivals. | |
| "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 Debenhams chief executive Rob Templeman. | |
| "We have said previously that our main focus is on cash profit rather than just sales, and our increase in profits during the first half, despite the environment, is testament to this aim and the close management of resources throughout the business." | |
| Mr Templeman added that it was difficult to make predictions for the second half of the firm's financial year, and Debenhams would continue be run on the expectation that trading conditions would "remain challenging". | |
| The company has 153 stores across the UK and Republic of Ireland, employing about 21,500 people. | |
| In addition, it has 48 international franchise outlets. |