Company Earnings Update 3 minutesRegister for Free AccessDEBENHAM (LSE: DEB) 1H18 Results: Profits Battered by Poor Christmas and Freezing Weather Coresight Research April 20, 2018 Executive Summary Debenhams reported a decline of 1.6% in group transaction value to £1.7 billion and a fall of 51.9% in underlying PBT to £42.2 million. Both are broadly in line with consensus, as recorded by S&P Capital IQ. The retailer attributed the poor performance to Christmas trading when it increased promotional activity and markdowns to keep pace with competitor discounting. Debenhams lowered its guidance for a decline in FY18 gross margin to (100) bps from (25) bps. The company now guides for FY18 PBT to be at the lower end of the £50–£61 million range. Please Login to read the full report. Not a member? Register for a free user account. This document was generated for Other research you may be interested in: Fewer Consumers Adjust Shopping Behavior To Cope with Inflation: US Consumer Survey Insights 2023, Week 37Chinese New Year 2023 Review: Early Signs of Consumption Recovery AppearAI in Action: Redefining Drug DiscoveryDecember 2023 US Housing Market Indicators: Positive Shifts To Start the New Year