Financial Express (Holdings) Limited (“we”, “our”, “us” and derivatives) are committed to protecting and respecting your privacy. This Privacy Policy, together with our Terms of Use, sets out the basis on which any personal data that we collect from you, or that you provide to us, will be processed by us relating to your use of any of the below websites (“sites”).


For the purposes of the Data Protection Act 1998, the data controller is Trustnet Limited of 2nd Floor, Golden House, 30 Great Pulteney Street, London, W1F 9NN. Our nominated representative for the purpose of this Act is Kirsty Witter.


We collect information about you when you register with us or use any of our websites / services. Part of the registration process may include entering personal details & details of your investments.

We may collect information about your computer, including where available your operating system, browser version, domain name and IP address and details of the website that you came from, in order to improve this site.

You confirm that all information you supply is accurate.


In order to provide personalised services to and analyse site traffic, we may use a cookie file which is stored on your browser or the hard drive of your computer. Some of the cookies we use are essential for the sites to operate and may be used to deliver you different content, depending on the type of investor you are.

You can block cookies by activating the setting on your browser which allows you to refuse the setting of all or some cookies. However, if you use your browser settings to block all cookies (including essential cookies) you may not be able to access all or part of our sites. Unless you have adjusted your browser setting so that it will refuse cookies, our system will issue cookies as soon as you visit our sites.


We store and use information you provide as follows:

  • to present content effectively;
  • to provide you with information, products or services that you request from us or which may interest you, tailored to your specific interests, where you have consented to be contacted for such purposes;
  • to carry out our obligations arising from any contracts between you and us;
  • to enable you to participate in interactive features of our service, when you choose to do so;
  • to notify you about changes to our service;
  • to improve our content by tracking group information that describes the habits, usage, patterns and demographics of our customers.

We may also send you emails to provide information and keep you up to date with developments on our sites. It is our policy to have instructions on how to unsubscribe so that you will not receive any future e-mails. You can change your e-mail address at any time.

In order to provide support on the usage of our tools, our support team need access to all information provided in relation to the tool.

We will not disclose your name, email address or postal address or any data that could identify you to any third party without first receiving your permission.

However, you agree that we may disclose to any regulatory authority to which we are subject and to any investment exchange on which we may deal or to its related clearing house (or to investigators, inspectors or agents appointed by them), or to any person empowered to require such information by or under any legal enactment, any information they may request or require relating to you, or if relevant, any of your clients.

You agree that we may pass on information obtained under Money Laundering legislation as we consider necessary to comply with reporting requirements under such legislation.


We want to ensure that the personal information we hold about you is accurate and up to date. You may ask us to correct or remove information that is inaccurate.

You have the right under data protection legislation to access information held about you. If you wish to receive a copy of any personal information we hold, please write to us at 3rd Floor, Hollywood House, Church Street East, Woking, GU21 6HJ. Any access request may be subject to a fee of £10 to meet our costs in providing you with details of the information we hold about you.


The data that we collect from you may be transferred to, and stored at, a destination outside the European Economic Area (“EEA”). It may be processed by staff operating outside the EEA who work for us or for one of our suppliers. Such staff may be engaged in, amongst other things, the provision of support services. By submitting your personal data, you agree to this transfer, storing and processing. We will take all steps reasonably necessary, including the use of encryption, to ensure that your data is treated securely and in accordance with this privacy policy.

Unfortunately, the transmission of information via the internet is not completely secure. Although we will do our best to protect your personal data, we cannot guarantee the security of your data transmitted to our sites; any transmission is at your own risk. You will not hold us responsible for any breach of security unless we have been negligent or in wilful default.


Any changes we make to our privacy policy in the future will be posted on this page and, where appropriate, notified to you by e-mail.


Our sites contain links to other websites. If you follow a link to any of these websites, please note that these websites have their own privacy policies and that we do not accept any responsibility or liability for these policies. Please check these policies before you submit any personal data to these websites.


If you want more information or have any questions or comments relating to our privacy policy please email [email protected] in the first instance.

 Information  X 
Enter a valid email address

Debenhams plc (DEB)

  Print      Mail a friend       Annual reports

Thursday 28 June, 2012

Debenhams plc

Interim Management Statement

RNS Number : 3034G
Debenhams plc
28 June 2012

28 June 2012





Debenhams plc today announces its interim management statement for the period to 23 June 2012.


Sales performance

Our good sales performance in the second half of the year, which is summarised in the table below, has been driven by our ongoing focus on the four pillars of our strategy to create a leading international, multi-channel brand.  Sales trends have accelerated from the first half exit run-rate.



16 weeks

 4 March 2012

to 23 June 2012

42 weeks

4 September 2011 to 23 June 2012

First half

4 September 2011 to 3 March 2012

Group gross transaction value




Group LFL sales - inc VAT




Group LFL sales - exc VAT





Delivering a compelling customer proposition

Although it has been a challenging trading period given both economic uncertainty and unseasonal weather, we have achieved sales growth through meeting our customers' needs, especially around key events when footfall has been at its highest such as Easter, Mother's Day, the Diamond Jubilee and month-ends.  Our success in driving sales was supported by investment in marketing around both our premium Life Made Fabulous theme and these calendar events.  Additionally, the ongoing development of our business in non-clothing categories such as beauty, accessories and home helped to alleviate the impact of the cold, wet spring on our more seasonal clothing categories, most notably womenswear.  Market share growth has been achieved in our key categories, including womenswear for which we were pleased to see a 10 basis point share improvement (source: Kantar Worldpanel Fashion market share for 12 weeks to 13 May 2012 vs. 2011).


Increasing availability and choice through multi-channel

Online sales grew by 34.9% during the 16 weeks to 23 June and have increased by 40.2% year-to-date*.  Debenhams is now the eleventh biggest UK online retailer by traffic volume, up from thirteenth last year (source: IMRG Experian Hitwise Hot Shops List May 2012).  Mobile continues to be the fastest growing channel, accounting for some 30% of website traffic, and free wi-fi is now available for customers to use in all UK stores. 

*These numbers include sales which have been fulfilled through endless aisle; on this basis, the first half online sales growth reported on 19 April 2012 of 34.7% is adjusted to 43.4%.  In future, online sales will be reported on this basis.



Focusing on UK retail

We continue to be pleased with the performance of the stores modernised in the current programme.  Nine modernisations were completed in early June.  Work has commenced on another nine stores which will be finished by the end of September.  Preliminary work has also commenced on the Oxford Street modernisation which will continue until October 2013. 

A new 24,000 square feet store opened in Dumfries in May, taking the UK and Ireland portfolio to 165 stores.  One further store has been added to the new store pipeline which stands at 14 stores expected to open over the next five years. 


Expanding the brand internationally

Outside the UK, two new franchise stores have been opened during the second half to date bringing the total number of stores to 68 with one further store due to open in the remainder of this year and eight more in the following year.  The six Magasin du Nord stores in Denmark have performed well, delivering good growth in gross transaction value and like-for-like sales during the 16 week period.  The soft launch of the German website took place in May as planned.  The full marketing and PR launch will take place later in the summer. 


Gross margin guidance

There are early signs of the improvements in own bought intake margin which we anticipate will become evident in the final months of the year.  However, these have been more than offset by a largely weather-related sales mix change towards health and beauty, which has a lower gross margin than own bought clothing, and by higher concession sales arising from our desire to add choice both in store and online.  The promotional calendar is largely unchanged from last year as stocks have been very tightly controlled across the business given the difficult market conditions. 


As a result of these factors, we now a expect Group gross margin for the full year to be around 30 basis points lower than last year compared with our previous guidance of broadly flat.


Financial position

There has been no material change to the financial position of Debenhams since the announcement of the first half results on 19 April 2012.  The long-term share buyback scheme has commenced and to date 9.7 million shares have been bought in the market for £7.7 million.  Guidance for the current buyback programme remains £20 million in the six months from April 2012.



Taking the sales performance, revised gross margin guidance and higher marketing spend into account, we remain comfortable with the market's current expectations for reported profit before tax for the year as a whole.




Michael Sharp, Chief Executive of Debenhams, said:


"We have continued to make good progress and I am particularly pleased with the like-for-like sales trends in the second half of the year.  Debenhams has again demonstrated the efficacy of our strategy to build a leading international, multi-channel brand and our ability to trade well in difficult market conditions, as well as the inherent strength of the department store model.


"Looking forward, there is little sign of an imminent recovery in consumer confidence.  Our focus for the remainder of this financial year and into next year will therefore be the remorseless execution of the four pillars of our strategy which we believe will bring success irrespective of the wider economy."


- Ends -


A conference call for analysts and investors will be held at 9:00am today.  To join this call, please dial +44 (0)20 3140 0820 (UK) or  +1 718 705 7514 (US).  A recording will be available for seven days on

+44 (0)20 3140 0698 (UK) or +1 877 846 3918 (US), PIN 385366#.



Analysts and investors

Lisa Williams, Director of Investor Relations, Debenhams            020 7408 3304, 07908 483841



Jonathon Brill, FTI Consulting                                                                    020 7269 7170



Notes to Editors

Debenhams is an iconic British department store group which was established over 200 years ago. Debenhams has a strong presence in key product categories including womenswear, menswear, childrenswear, home and health and beauty and offers its customers a unique and differentiated mix of exclusive own bought brands including Designers at Debenhams, international brands and concessions.


Debenhams has 171 stores in the UK, the Republic of Ireland and Denmark as well as 68 international franchise stores in 25 countries.  Debenhams products are available online at, and as well as through iPhone, iPad, Android and Nokia apps.   


Designers at Debenhams include Ted Baker, Jeff Banks, Jasper Conran, Erickson Beamon, FrostFrench, Henry Holland, Roksanda Ilincic, Betty Jackson, Jonathan Kelsey, Carol Lake, Ben de Lisi, Julien Macdonald, Melissa Odabash, Jane Packer, Jenny Packham, Pearce Fionda, Preen, Janet Reger, John Rocha, Jonathan Saunders, Lisa Stickley, Yukari Sweeney, Ashley Thomas, Eric Van Peterson and Matthew Williamson.


Debenhams was awarded "Multichannel Retailer of the Year" at the Oracle Retail Week Awards in March 2012.


Statements made in this announcement that look forward in time or that express management's beliefs, expectations or estimates regarding future occurrences and prospects are "forward-looking statements" within the meaning of the United States federal securities laws.  These forward-looking statements reflect Debenhams' current expectations concerning future events and actual results may differ materially from current expectations or historical results. Neither the content of the Company's website nor the content of any website accessible from hyperlinks on the Company's website (or any other website) is (or is deemed to be) incorporated into or forms (or is deemed to form) part of this announcement.






This information is provided by RNS
The company news service from the London Stock Exchange

a d v e r t i s e m e n t