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Debenhams confident despite sales fall Debenhams confident despite sales fall
(35 minutes later)
Department store group Debenhams says it is on track to meet profit forecasts despite a slight fall in sales.Department store group Debenhams says it is on track to meet profit forecasts despite a slight fall in sales.
Debenhams said it had seen a 0.2% fall in like-for-like sales in the 15 weeks to June 11. Debenhams said it had seen a 0.2% fall in like-for-like sales in the 15 weeks to 11 June.
Debenhams said that the UK trading environment had become more uncertain since the start of 2016, particularly in clothing. The retailer said that the UK trading environment had become more uncertain since the start of 2016, particularly in clothing.
The retailer said non-clothing sales in sectors such as health and beauty sales had helped boost its profits. Debenhams said non-clothing sales in sectors such as health and beauty sales had helped boost its profits.
It said that despite volatility in the trading environment, it expects 2016 profit to meet forecasts.It said that despite volatility in the trading environment, it expects 2016 profit to meet forecasts.
Analysts said that the results pointed to tough conditions on the High Street.
"Like-for-like sales in the last three months have deteriorated and gross margin guidance cannot be upheld," said Joshua Raymond, Market Analyst at XTB.com.
"That paints a difficult trading environment for the retailer and as such, investors will demand the firm keeps a tight grip on cost."
Analysts on average expect Debenhams to report pre-tax profit of £119m, according to Reuters.