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Debenhams posts rise in gross transaction value

RBR Staff Writer Published 28 June 2013

British department store chain Debenhams has reported a 1% rise in gross transaction value during the 16 weeks to 22 June, a period which includes its fiscal third quarter.

Like-for-like sales for the 16 week period were flat while online sales jumped by 40%, accounting for 14% of total sales.

For the 42-week period, gross transaction value grew by 2.6%. Like-for-like sales increased by 2.1% during the same period.

For the year to date, online sales jumped by 43.9% and represented 13.1% of total sales.

Debenhams chief executive Michael Sharp said that the company has delivered a robust performance, continuing to grow market share in key categories in a challenging and volatile period.

"I'm particularly pleased that we have maintained strong growth of online sales which were up by 40%," Sharp added.

"We have managed the business to reflect the market conditions, with a strong focus on stocks, margins and costs. We are also making good progress on the four pillars of our strategy to build a leading international, multi-channel brand."

According to the department store chain, the transformation of London's Oxford Street into an international flagship store is on schedule ahead of its official launch in December 2013. The retailer is currently recruiting for 430 new jobs in the store.

Debenhams operates 235 stores across 27 countries. There were 62 franchise stores in 24 countries as on 22 June. The new store pipeline stands at 25 stores, starting with 10 in 2014.