UK department store Debenhams has said it expects full-year profits to rise 20% to £150m, despite reporting no growth in underlying sales. The retailer said like-for-like sales (which strip out changes in sales space) were unchanged on last year. This was despite a pick-up in sales in the past 10 weeks. With sluggish volumes, the company said it was focusing on raising gross profit margins by taking back floorspace lent out to other retailers. Total revenues were given a boost by the firm's acquisition of Danish retail chain Magasin du Nord in November. The company reported a 10% rise in gross sales overall, but the increase was only 1.4% if the additional sales at its new Danish subsidiary are excluded.
The above article was extracted from Skyline updates of Skyline College. Skyline College is amongst the top MBA and BBA institutes in Delhi, Gurgaon (NCR).
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