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Debenhams sees record December sales Debenhams sees record December sales
(about 3 hours later)
Department store chain Debenhams has reported record December sales, thanks in part to additional promotions.Department store chain Debenhams has reported record December sales, thanks in part to additional promotions.
Like-for-like sales rose 5% in the month against a year earlier. Sales in the 18 weeks to 5 January were up 2.9%, with online sales up 39%.Like-for-like sales rose 5% in the month against a year earlier. Sales in the 18 weeks to 5 January were up 2.9%, with online sales up 39%.
Despite the strong sales, the group warned there would be little upturn in consumer confidence this year.Despite the strong sales, the group warned there would be little upturn in consumer confidence this year.
Earlier, figures from the British Retail Consortium (BRC) showed a 0.3% rise in December retail sales.Earlier, figures from the British Retail Consortium (BRC) showed a 0.3% rise in December retail sales.
It also said there would be little improvement in sales in 2013.It also said there would be little improvement in sales in 2013.
'Best ever''Best ever'
Debenhams said the trading environment in the last four months of 2012 was "extremely challenging".Debenhams said the trading environment in the last four months of 2012 was "extremely challenging".
"We continue to believe that whilst consumers have become acclimatised to the new economic reality, we don't anticipate a significant change in consumer confidence in the remainder of the year," said chief executive Michael Sharp."We continue to believe that whilst consumers have become acclimatised to the new economic reality, we don't anticipate a significant change in consumer confidence in the remainder of the year," said chief executive Michael Sharp.
With shoppers leaving it late to buy presents this year, the chain said it increased promotional activity in the run-up to Christmas.With shoppers leaving it late to buy presents this year, the chain said it increased promotional activity in the run-up to Christmas.
As a result, the improvement in margins over the previous year would be less than previously forecast, it said.As a result, the improvement in margins over the previous year would be less than previously forecast, it said.
This, together with the downbeat comments about the year ahead, pushed Debenhams shares down more than 5% in early morning trading.
Department stores performed well over the festive period. On Monday, House of Fraser said it enjoyed its "best ever" Christmas, with like-for-like sales, which strip out the impact of new stores, rising 6.3% in the six weeks to 5 January.Department stores performed well over the festive period. On Monday, House of Fraser said it enjoyed its "best ever" Christmas, with like-for-like sales, which strip out the impact of new stores, rising 6.3% in the six weeks to 5 January.
Last week, John Lewis also reported a sharp rise in Christmas sales.Last week, John Lewis also reported a sharp rise in Christmas sales.
Others on the High Street fared less well. The BRC said that, after allowing for inflation, overall sales were flat in December, which, together with rising costs, meant retailers were "running fast to stand still".Others on the High Street fared less well. The BRC said that, after allowing for inflation, overall sales were flat in December, which, together with rising costs, meant retailers were "running fast to stand still".
Retailers endured a tough year in 2012, with a number of high profile High Street names going into administration, including Peacocks, Game, Aquascutum, Clinton Cards and Comet.Retailers endured a tough year in 2012, with a number of high profile High Street names going into administration, including Peacocks, Game, Aquascutum, Clinton Cards and Comet.