DEBENHAMS PROFITS UP ON PREVIOUS YEAR.Byline: Neil Hodgson Neil Hodgson (born November 20 1973 in Burnley, Lancashire) is a motorcycle racer who won the 2000 British Superbike championship and the 2003 Superbike World DEBENHAMS today said profits were up on last year after the department store chain achieved a "creditable" trading performance. The 153-store group, which opened its first shop in the city last May in Liverpool One, posted a 3.3% drop in like-for-like sales Like-for-Like Sales The portion of current sales achieved through activities that are comparable to the activities of the previous year. Notes: Using like-for-like sales is a method of valuation that attempts to exclude any effects of expansion, acquisition, or other for the 12-week period since October 21. But this compared with a decline of 4.2% for the previous six weeks and meant profits for the 18-week period improved on a year earlier. Chief executive Rob Templeman said: "Our trading strategy In finance, a trading strategy (see also trading system) is a predefined set of rules to apply. Usually, this refers to a means used to replicate an option in order to give it an arbitrage free value in the sense that the cost of buying some financial assets to give the same for the first 18 weeks of the year has resulted in further market share gains and a creditable sales performance given the extremely difficult and volatile conditions seen across the high street." Meanwhile, fashion chain Next today said it had made a "good start" to post-Christmas sales despite further trading declines in the run-up to the festive fes·tive adj. 1. Of, relating to, or appropriate for a feast or festival. 2. Merry; joyous: a festive party. season. Like-for-like sales across its high street stores fell 7% between the end of July and December 24 - worse than the 4.4% fall reported in November, but just within the lower end of its previous forecasts. But unlike rivals, Next refused to slash prices in the approach to Christmas and said it expected clearance rates to be ahead of last year after a good start to its sale period. Next expects the first half of the year set to be "particularly difficult". But the firm added profits for the year to January remained in line with market hopes of between pounds 415m and pounds 435m. |
|
||||||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion