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Debenhams (LSE: DEB) Christmas Trading Update: Sales Decline Prompts Profit Warning

Executive Summary

  • Debenhams reported a decline of 1.3% in group comparable sales and a decline of 0.8% in gross transaction value in the 17 weeks ended December 30, 2017.
  • At constant currency, comps declined by 1.8%, including a UK comp decline of 2.6% and an international comp increase of 2.1%.
  • Promotional activity helped improve sales, but negatively impacted gross margin, which is expected to decline by 150 basis points year over year in 1H18.

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