Investors have been abandoning Debenhams after it reported a fall in first quarter sales, despite an improved Christmas performance.
The country's second-largest department store chain said UK like-for-like sales fell 0.8% in the 19 weeks to 10 January.
However the firm, which has 240 stores and trades across 28 countries, said that over the four weeks to 10 January underlying sales were up 4.9%, with revenues boosted by less discounting and an improved online delivery offer.
Debenhams said trading was at record levels over Christmas week.
Chief executive Michael Sharp said: "I am pleased with our performance in the critical Christmas trading weeks, driven by our strength in a diverse range of product categories and a strong marketing campaign focussed on gifting.
"Our performance steadily improved following the well documented challenges in the clothing market in the autumn.
"We now have a competitive online proposition with next day delivery to home and next day click and collect, which customers took full advantage of and which performed well over Christmas.
"I would like to thank the whole Debenhams team for their tremendous efforts in delivering this performance."
Shareholders did not seem to agree that the trading update was positive, with Debenhams' value down 9% in early trading.
The announcement was made as figures compiled by the British Retail Consortium showed the industry suffered its slowest December growth in six years.
The body blamed a Black Friday spending rush in November for disrupting the "timing and rhythm" of Christmas sales.
Among other retailers reporting Christmas trading updates on Tuesday was ASOS, the online fashion specialist.
It said there was a 15% increase in like-for-like sales for the six weeks to 9 January - helping its share price grow 12% when the market opened following a tough 2014 that saw it hit by a damaging warehouse fire.
Greggs, the bakers, raised its full-year profit guidance while reporting an 8.1% rise in like-for-like sales for the five weeks to 3 January.
Its share price rose 6% when trading began.
Anda sedang membaca artikel tentang
Debenhams Shares Take 9% Hit On Trading Woes
Dengan url
http://cembururabun.blogspot.com/2015/01/debenhams-shares-take-9-hit-on-trading.html
Anda boleh menyebar luaskannya atau mengcopy paste-nya
Debenhams Shares Take 9% Hit On Trading Woes
namun jangan lupa untuk meletakkan link
Debenhams Shares Take 9% Hit On Trading Woes
sebagai sumbernya
0 komentar:
Posting Komentar