KEITH BOWMAN | HARGREAVES LANSDOWN
Debenhams continues to be given the benefit of the doubt. Self-help measures have propelled a group recovery, with moves overseas and online further supporting investor sentiment. With the valuation still seen as reasonable and hopes of a share buy-back persisting, market consensus denotes a buy.
ANDREW WADE | NUMIS
Debenhams has reported a solid end to the first half, with like-for-likes improving to 2.4 per cent over the last eight weeks. With sales ahead helped by some additional margin investment, the company remains comfortable with the forward year outlook and we leave our forecasts unchanged.
JOHN STEVENSON | PEEL HUNT
Overall, a solid statement, with like-for-like sales slightly stronger than anticipated. While retail sector share prices have enjoyed a strong start to 2012...the robust level of trading and the prospect of improving margins in the second half give confidence that earnings forecasts have hit the nadir.