Debenhams profits up despite lower sales

Debenhams today said profits were up on last year after the department store chain achieved a “creditable” Christmas trading performance.

The group, which has 153 stores in the UK and Ireland, posted a 3.3% drop in like-for-like sales for the 12 week period since October 21.

However, this compared with a decline of 4.2% for the previous six weeks and meant profits for the 18 week period improved on a year earlier.

Chief executive Rob Templeman said: “Our trading strategy for the first 18 weeks of the year has resulted in further market share gains and a creditable sales performance given the extremely difficult and volatile conditions seen across the high street.”