London, England -- (SBWire) -- 04/25/2011 -- Spread betting provider City Index (http://www.cityindex.co.uk/) takes a look at the financial activity shaping the markets on 14th April 2011.
For the 26 weeks to February 26th 2011, group like-for-like sales at Debenhams were down by 1.5 per cent when VAT is excluded.
When included, such sales remained flat. The retailer also revealed that headline profit before tax and exceptions reached £129.2 million, a 4.5 per cent increase compared to the same period in 2010.
Earnings per share rallied by 14.5 per cent to stand at 7.1 p, while sales for Debenhams Direct stormed ahead by 82.4 per cent.
It was also revealed today (April 14th) that chief executive of Debenhams Rob Templeman is to retire at the end of the current financial year, with deputy chief executive Michael Sharp taking over from September 5th 2011.
As of 09:42 BST, the share price of the retailer was up by 0.60 per cent on the FTSE 250.
Commenting on the financial results, Mr Templeman said:" Looking forward, there are some encouraging signs that commodity prices such as cotton may fall, which could be positive for both consumers and retailers in terms of pricing."
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Debenhams Reveals Group Sales Are Down, Earnings Per Share Rise - Spread Betting News
Spread betting provider City Index takes a look at the financial activity shaping the markets on 14th April 2011.