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: US Store Tracker Extra, January 2023: US Retailers To Open 27 Million Square Feet of New Retail SpaceConsumer Financial Health Stays Strong: US Consumer Survey Insights 2023, Week 38Retail Around the World: Black Friday 2023—Coresight Research ObservationsWeekly US and UK Store Openings and Closures Tracker 2023, Week 35: UK Openings Up 27%