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Retail

Debenhams shares rise after solid Christmas performance

For the seven weeks to January 7, underlying sales grew 5%, while over the 18 weeks to the same date the figure was 3.5%.

Shares in Debenhams PLC (LON:DEB) were higher in early trade after the department store chain revealed it had traded well over the crucial Christmas selling period.

For the seven weeks to January 7, underlying sales grew 5%, while over the 18 weeks to the same date the figure was 3.5%.

Online revenues increased by just under 14% over the longer period.

“The resilience of Debenhams' differentiated offer is beginning to show through, with the growth we have driven in beauty and gifting,” said chief executive Sergio Bucher.

“It's encouraging to see that the service improvements we have made helped us to deliver strong multi-channel sales growth.”

Debs decision to broaden out its offering is continuing with 57% of revenues now coming from non-clothing lines.

At 8.30am, the shares were changing hands for 56.1p, up 3%.