Debenhams UK profits plunge nearly 85% after battering by Beast from the East

Debenhams saw its half-year profits in the UK plunge nearly 85% after extreme weather brought in by the Beast from the East gouged earnings.

The retailer said its bottom-line pre-tax profits fell from £87.8m (€101m) to just £13.5m (€15.5m) over the 26 weeks to March 3, having taken a major hit during the final days of the trading period when bad weather forced Debenhams to temporarily close around 100 stores.