Sunday, August 14, 2022

Debenhams’ beauty & gift ranges aid healthy growth

Debenhams is the latest big retailer to report a bumper Christmas period, as a huge swell in beauty and gift items uplifted its figures.

A rise in non-clothing sales which accounted for 57 per cent of overall sales, aided an overall like-for-like sales growth of 3.5 per cent in the 18 weeks to January 7.

Black Friday also helped the retailer‘s quarterly margins, as online sales shot up by 13.9 per cent.

This will come as good news to both staff and investors, as stocks continue to suffer, dropping five points recently due to Next‘s warning over the coming year’s fashion trading. 

READ MORE: Debenhams’ veteran designers could be shown the door

Stocks have shown an overall decline of seven per cent year-on-year.

“I’m pleased with the performance we have achieved in the key trading weeks of Black Friday and over the Christmas peak, given the challenges in the broader environment and the strong performance last year,” chief executive Sergio Bucher said.

“The resilience of Debenhams’ differentiated offer is beginning to show through, with the growth we have driven in beauty and gifting.

“It’s encouraging to see that the service improvements we have made helped us to deliver strong multi-channel sales growth.”

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