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Does Debenhams have a future? Retail analyst Patrick O'Brien on Proactive

Patrick O'Brien, UK retail research director at GlobalData, discusses with Proactive London's Andrew Scott today's trading statements from Debenhams PLC (LON:DEB) and Marks & Spencer Group PLC (LON:MKS).

Shares in Debenham's dropped after it posted weak Christmas sales, although the retailer said it is currently on track to deliver current year profits in line with market expectations, despite a challenging market backdrop, and added that constructive discussions with its lenders have commenced.

M&S meanwhile had a difficult Christmas trading period but also left its full-year guidance unchanged as it made progress with its turnaround plan.

The British retailer reported a 2.2% drop in UK like-for-like sales to £2.78bn for the third quarter ended December 29 with food sales down 2.1% and clothing and home sales down 2.4%.

 
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