This article is from the source 'bbc' and was first published or seen on . It will not be checked again for changes.
You can find the current article at its original source at http://news.bbc.co.uk/go/rss/-/1/hi/business/7947529.stm
The article has changed 4 times. There is an RSS feed of changes available.
| Version 2 | Version 3 |
|---|---|
| 'No decision' on Debenhams issue | |
| (about 5 hours later) | |
| Shares in Debenhams have fallen 9% after the department store group said it had "made no decisions" about a possible stock issue to raise funds. | |
| Analysts said Debenhams has been considering a share issue to help trim debts which totalled £994m last year. | |
| The news came as Debenhams blamed a fall in half-year sales on tough trading across the retail sector. | |
| Despite a 3.6% dip in same-store sales, it said profits were up, and it will now create 1,200 new jobs. | |
| Although Debenhams' trading update for the six months to 28 February did not include a profit figure, it said it was higher than a year earlier due to cost cutting and tighter stock management. | |
| Shares in the firm were down 9% or 4.25 pence to 41.75p in early afternoon trading. | |
| Profit focus | 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. | 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 will continue to run Debenhams in the expectation that the trading environment will remain challenging Rob Templeman, Debenhams chief executive | We will continue to run Debenhams in the expectation that the trading environment will remain challenging Rob Templeman, Debenhams chief executive |
| "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 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." | "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 while it was difficult to make predictions for the second half of the firm's financial year, "we will continue to run Debenhams in the expectation that the trading environment will remain challenging". | Mr Templeman added that while it was difficult to make predictions for the second half of the firm's financial year, "we will continue to run Debenhams in the expectation that the trading environment will remain challenging". |
| The company has 153 stores across the UK and Republic of Ireland, currently employing about 21,500 people. | |
| It said the 1,200 new jobs would be created by the end of 2010. | |
| Debenhams also has 48 international franchise outlets. |