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Debenhams on track to meet full-year profit forecasts Tuesday, 18th September 2012
Debenhams today said it will meet full-year profit forecasts after the department store group posted a rise in underlying sales in its final fiscal quarter.
The company reported a same store sales increase of 3.7 per cent, excluding VAT sales tax, in the ten weeks to 1 September.
This compares to a 3.1 per cent rise in the 16 weeks to 23 June.
Analysts expect 2011-12 gross margin to finish around 30 basis points lower than the previous year and a pre-tax profit of around £156 million, up from £152 million.
The department store chain currently operates 167 stores in the UK, Ireland and Denmark, as well as 61 franchise stores in 24 further countries.