Shares rise 2.5% in Debenhams

DEBENHAMS said yesterday it would beat forecasts for full-year profit and net debt after price cuts drove sales and won it market share in a tough trading environment.

Shares in Debenhams, which trades from 169 stores in Britain, Ireland and Denmark, and 64 franchised outlets in 25 countries, rose 2.5% after it also said yesterday it expected to make further progress in its 2011/12 year.

“In this sort of market there are inevitably winners and losers, and I believe Debenhams is well positioned to continue to be one of the winners,” chief executive Michael Sharp, who succeeded Rob Templeman earlier this month, said.