News / UK and world by Press Association April 23, 2018, 12:58 pm FacebookTwitterLinkedInWhatsAppEmail Sign up to our Daily newsletter Debenhams is expanding its foreign exchange services as part of plans to widen its appeal to customers. The department store is partnering with Western Union in 112 of its stores to offer global money transfer to shoppers. Western Union already partners with several major retailers – including John Lewis, WHSmith and Sainsbury’s. The news comes as Debenhams pushes ahead with plans to improve its consumer offering amid flagging sales and profits. Debenhams saw its half-year profits plunge nearly 85% from £87.8 million to just £13.5 million over the 26 weeks to March 3, with like-for-like sales falling by 2.2%. The department store is facing severe structural pressures and the firm has started shifting its focus away from fashion towards beauty products and gifts. Announcing its partnership with Western … [Read more...] about Debenhams builds personal finance offer with Western Union partnership
Debenhams
Debenhams cuts dividend as first-half profit slumps
LONDON (Reuters) – British department store group Debenhams <DEB.L> on Thursday warned on the full-year outlook for the second time in four months and cut its dividend as it reported a 52 percent slump in first-half profit. The retailer, which issued a profit warning in January, said it made an underlying pretax profit of 42.2 million pounds in the 26 weeks to March 3 – below analysts’ average forecast of 44 million pounds and the 87.8 million pounds made in the first half of its 2016-17 year. Debenhams cut its interim dividend by 51 percent to 0.5 pence. It said that based on its current view of the second half of the financial year, full-year pretax profit was expected to be at the lower end of the current range of broker forecasts of 50-61 million pounds. It was previously guiding to 55-65 million pounds. (Reporting by James Davey, Editing by Paul Sandle) … [Read more...] about Debenhams cuts dividend as first-half profit slumps
Debenhams profits plunge nearly 85% after battering by Beast from the East
News / UK and world by Press Association April 19, 2018, 8:01 am FacebookTwitterLinkedInWhatsAppEmail Sign up to our Daily newsletter Debenhams saw its half year profits 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 £87.8 million to just £13.5 million 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. That was much worse than analyst forecasts, which had placed pre-tax profits at around £44 million. Debenhams also blamed a “disappointing Christmas season” for increasing competitor discounting and ultimately hitting underlying earnings for the UK, which fell 39.3% over the half year. Like-for-like sales, meanwhile, dropped 2.2%, with the retailer citing a “challenging UK market background.” … [Read more...] about Debenhams profits plunge nearly 85% after battering by Beast from the East
Debenhams profits to halve after tumultuous six months
News / UK and world by Press Association April 13, 2018, 2:13 pm FacebookTwitterLinkedInWhatsAppEmail Sign up to our Daily newsletter Debenhams is poised to report a halving of its profits next week after the retailer performed poorly over Christmas and was forced to close stores in March due to extreme weather. The department store is expected to post half-year pre-tax profits of just £44 million on Thursday, down from £87.8 million the year before, according to City analysts. Consensus estimates also forecast a 2.5% decline in like-for-like sales over the six month period. Debenhams issued a profit warning in early January after a disappointing Christmas period, prompting its share price to plunge by 20%. In the final week of the half, trading was then impacted by the first of two snowstorms which battered the UK in March. To compound matters, the poor weather coincided with Debenhams’ “Spring Spectacular” promotion, … [Read more...] about Debenhams profits to halve after tumultuous six months
Debenhams mocked for ‘statement’ £95 gorilla lamp ‘doing very rude gesture’
A DEPARTMENT store's £95 gorilla lamp has gone viral after a customer spotted the ape making what seems to be a very rude gesture. J Farrers tweeted a picture of the orange felt lamp yesterday morning and wrote: “Debenhams seem to be selling a lamp whose base is a gorilla calling you a w*****.” The snap was taken in their store in Milton Keynes, Bucks, but is available to buy online. Debenhams describe the lamp - designed by London-based interior designer Abigail Ahern - as "a statement home piece from a distinctive range". But Ahern, lauded as the "high priestess of interiors" by Living Etc magazine, could not have imagined the smutty reaction her lamp would receive. After J Farrers posted his hilarious snap, thousands of Twitter users retweeted the post and scores of people commented. Drivelcast wrote: “I like to imagine he's thinking ‘Haha, he can't see me disguised as a lamp. What a t****r.’” John Betteridge wrote: “No more … [Read more...] about Debenhams mocked for ‘statement’ £95 gorilla lamp ‘doing very rude gesture’