Debenhams Regulatory News (DEB)

15 Jan 2008 07:00

Debenhams plc15 January 2008 15 January 2008 DEBENHAMS plc INTERIM MANAGEMENT STATEMENT Strong Christmas trading Debenhams plc, the leading department stores group, today releases its interimmanagement statement for the year-to-date ended 5 January 2008. For the four weeks of Christmas ended 5 January 2008, total sales were 4.4%higher than last year. Like-for-like sales for the Christmas period increasedby 2.2%. For the 18 weeks ended 5 January 2008, total sales were 2.0% above thecomparative period last year. Like-for-like sales for the 18 weeks were flat,reflecting the poor general market conditions experienced across the sectorearlier in this period. The performance of the exclusive Designers at Debenhams brands has beenparticularly pleasing and contributed to the overall market share gains achievedin the last few months. Debenhams Direct, the online business, continued to grow strongly with visitornumbers and sales up 57% and 85% respectively. The international business alsoperformed well. Since the start of the year three new and two resited department stores and oneDesire store have been opened, increasing trading space by some 197,000 squarefeet. The total number of stores within the UK and Ireland now stands at 146compared to 139 at this time last year. Refurbishment programmes have beencompleted at 18 stores this year and refurbished stores continue to achieve theexpected returns. Angela Spindler has been appointed Managing Director, reporting to ChiefExecutive Rob Templeman, and will join the board and the company on 4 February2008. Rob Templeman, Chief Executive, said: "Our sales during Christmas and early January were strong with like-for-likesales up by 2.2%. This offset the weak market experienced in November andresulted in flat like-for-like sales growth for the first 18 weeks of the year. "The Roches acquisition in the Republic of Ireland is now fully operational inthe Debenhams trading format and these stores performed well over the Christmasperiod. "The fragile state of consumer confidence leads us to view the future withcaution and we are running the business on the basis that market conditions willremain difficult. To this end, we are focusing more on our designercredentials, which we believe will be more resilient in this environment, aswell as managing our cost base, the speed of our refit and capital expenditureprogrammes and our inventory levels tightly." Debenhams will announce its first half sales numbers on 18 March 2008 and itsinterim results on 15 April 2008. A conference call will be held today at 8:30am on 0845 2455000 (UK) or +44 (0)1452 562716 (overseas), conference ID 30679359. A replay of the call will beavailable for seven days on 0845 2455205 (UK) or +44 (0) 1452 550000 (overseas),PIN 30679359#. Enquiries Analysts/ShareholdersDebenhams plcRob Templeman, Chief ExecutiveChris Woodhouse, Finance Director 020 7408 3302Lisa Williams, Investor Relations 020 7408 3304 MediaFinancial DynamicsJonathon Brill 020 7269 7170Billy Clegg 020 7269 7157Caroline Stewart 020 7269 7227 High resolution images are available for media to view and download free ofcharge from www.prshots.com/Debenhams. Statements made in this announcement that look forward in time or that expressmanagement's beliefs, expectations or estimates regarding future occurrences andprospects are "forward-looking statements" within the meaning of the UnitedStates federal securities laws. These forward-looking statements reflectDebenhams' current expectations concerning future events and actual results maydiffer materially from current expectations or historical results. Any suchforward-looking statements are subject to various risks and uncertainties,including: Debenhams' ability to accurately predict customer preferences anddemands; the effectiveness of Debenhams' brand awareness and marketingprogrammes; the occurrence of weak sales during peak selling seasons or extremeor unseasonal weather conditions; difficult market conditions and fragileconsumer confidence; competitive factors in the highly competitive retailindustry; Debenhams' ability to successfully implement its new store rollout anddepartment store refurbishment/modernization strategy; Debenhams' ability tomaintain its relationships with certain designers and its significant concessionpartner; and currency fluctuations and currency risk. * * * Additional risk factors that you may want to consider are: Debenhams' abilityto retain key management and personnel; disruptions or other adverse eventsaffecting Debenhams' relationship with its major suppliers or its store cardprovider; factors outside Debenhams' control, such as changes in the financialor equity markets, adverse economic conditions or a downturn in the retailindustry, or damage or interruptions due to operational disruption, naturaldisaster, war or terrorist activity; and work stoppages; slowdowns or strikes. Notes to Editors Debenhams is a leading department stores group with a strong presence in keyproduct categories, such as womenswear, menswear, homeware and health andbeauty. Debenhams has a total of 136 department stores in the UK and Republic Irelandand 10 Desire by Debenhams stores, which are a new small store concept featuringa mix of womenswear, accessories, lingerie, cosmetics and childrenswear.Debenhams has a further 40 international franchise stores in 16 countries and anonline store, www.debenhams.com, through which much of the Debenhams' range isavailable. Debenhams is the second largest department store chain in the UK. Designers at Debenhams include Ted Baker, Jasper Conran, Theo Fennell, PearceFionda, Frost French, Betty Jackson, Ben de Lisi, Julien Macdonald, JohnRichmond, John Rocha and Matthew Williamson. This information is provided by RNS The company news service from the London Stock Exchange