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: Shoptalk 2023 Day Two: AI Takes Center StageMarket Outlook: UK Apparel and Footwear Retailing—Market Softens, Industry Players Seek To Improve MarginsConsumers’ Appetite for In-Store Shopping Remains Resilient: China Consumer Survey InsightsPrivate Label vs. Name Brands: Uncovering Growth Opportunities in the US Food and Beverage Market