Debenhams hails 'creditable' performance

Department store chain Debenhams allayed fears over trading today after reporting a “marked improvement” in business during August.

The company also said it enjoyed overall market share gains during the year to August 30.

Chief executive Rob Templeman unveiled a 0.9% fall in like-for-like sales during the financial year, which he described as “creditable” given the tough conditions.

“Trading in August showed a marked improvement over July but the UK retail sector continues to be adversely affected by wider economic concerns,” he added.

The firm’s full-year update follows a statement in June that was rushed out a week ahead of schedule amid speculation of double digit percentage sales falls.

Debenhams operates 139 stores in the UK and Ireland.