Insight Report 3 minutes PremiumDebenhams (LSE: DEB) FY18 Results: Substantial Exceptional Charge Drives £492 Million Pretax Loss; Confirms Plans to Shut 50 Stores Coresight Research October 26, 2018 Executive Summary For FY18, Debenhams reported a 2.7% decline in comparable sales at constant exchange rates, with a weak performance in its core UK market driving this decline. The company booked a £525 million charge for asset and goodwill impairment and onerous lease provisions, resulting in statutory pretax losses of £492 million. Even after stripping out these exceptional items, underlying EPS decreased by 65.6% year over year. Debenhams confirmed media speculation that it plans to shut 50 stores in the next three to five years. This report is for paying subscribers only. Already a paying subscriber? Please log in to see the entire report.If you wish to learn more about our subscription plans and become a paying subscriber, click here. This document was generated for Other research you may be interested in: 2Q23 US Retail Inventory Tracker: Inventory Turnover Ratios Improve for Many Retailers Due to Disciplined ApproachesChina Consumer Tracker: Avoidance Drops Ahead of Chinese New YearE-Commerce Outlook: US Department Stores—Digital Slows as Consumers Shop in StoresWeekly US and UK Store Openings and Closures Tracker 2024, Week 3: Greggs To Open 140 Stores in the UK