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Debenhams to expand retail network, posts rise in profit

RBR Staff Writer Published 26 October 2012

British retailer Debenhams is ramping up expansion plans following a rise in full-year profits from operations in both the UK and overseas.

The UK chain intends to open 17 new stores across UK over next five years, creating over 1, 700 jobs.

The 17 new stores in the pipeline will be located at: Cheshire Oaks, Chester; Fort Kinnaird, Edinburgh; Beverley, East Yorkshire; Wandsworth, London; Scunthorpe, North Lincolnshire; Darlington, County Durham; Newport, Wales; and Shrewsbury (Shropshire

Debenhams total sales for the 52-week period ended 1 September 2012 increased 2.6%, while online sales amounted to 39.8% and profit up before tax up 4.2% to £158.3m

Group like-for-like sales for the full year increased 2.3% including VAT, the company stated.

Debenhams is also looking to open additional 20 new international stores over the next four years in locations including Bulgaria, Estonia, Egypt and Turkey.

Commenting on store openings, Debenhams chief executive Michael Sharp said this is great news for job seekers as well as shoppers across the country.

"We are on track to modernise 30 core stores by Christmas 2014, including Oxford Street, which will be transformed outside and inside to create a true company flagship for the brand," Sharp added.