Proactive Investors - Run By Investors For Investors

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%.

Meet Rockfire Resources PLC, Touchstone Exploration Inc, Mkango Resources Ltd and Salt Lake Potash Ltd at our event, London , 20 June 2019. Register here »
View full MKS profile View Profile

Marks and Spencer Group PLC Timeline

© Proactive Investors 2019

Proactive Investors Limited, trading as “Proactiveinvestors United Kingdom”, is Authorised and regulated by the Financial Conduct Authority.
Registered in England with Company Registration number 05639690. Group VAT registration number 872070825 FCA Registration number 559082. You can contact us here.

Market Indices, Commodities and Regulatory News Headlines copyright © Morningstar. Data delayed 15 minutes unless otherwise indicated. Terms of use