Debenhams posted record December sales this morning, boosted by growth in online shopping and an increase in promotional activity.
Like for like sales in the five weeks to 5 January were up five per cent year on year, while over a period of 18 weeks, sales at stores open longer than a year rose 2.9 per cent.
The numbers were flattered by strong growth online, as the department store chain posted a higher-than-expected 39 per cent increase in online sales.
“We don’t anticipate a significant change in consumer confidence in the remainder of the year. We remain committed to prudent investment in key areas of the business to deliver long-term sustainable growth as well as driving shareholder value,” Michael Sharp, chief executive of Debenhams, said this morning.