Debenhams lines up more concessions as profits surprise
CEO says new strategy working; To increase number of in-store concessions
London: British department stores chain Debenhams said it would give more shop space to a raft of retailers including Costa Coffee and Sports Direct as part of a shake-up aimed at improving under-pressure profits.
The move builds on a year-old strategy to cut back promotions, strengthen online ordering and delivery options, and trial concessions in underused store space to secure higher returns, improve choice and increase visitor numbers. On Thursday Britain’s No. 2 department stores chain behind John Lewis said the plan was working as it posted a pretax profit of 88.9 million pounds ($132 million) for the 26 weeks to Feb. 28, its fiscal first half.
