Debenhams reports fall in profits

Department store Debenhams today said it was encouraged by market share-gains after like-for-like sales fell 4.2% amid the current economic turmoil.

The performance for the six weeks to October 11 followed a drop of 0.9% in the year to August 30. Pre-tax profits for the financial year were also down 16% to £110.1m (€142.1m), although this was in line with City expectations.