Debenhams (DEB:LN, HOLD, T/P U/R) - Trading Update | Profit Warning
Debenhams becomes the first Profit Warning of 2018 guiding 8/18 PBT to £55-65m around 20% below consensus at the mid-point. This highlights the operational gearing here with the main financial variance being a 150bps 1H gross margin decline against previous guidance for Full Year gross margin to fall 25bps. This has resulted from tactical promotion to maintain clean stock and weaker than expected start to the Clearance Sale.Debenhams plc. Debenhams plc is a United Kingdom-based company, which is engaged in multi-channel business. The Company's brand trades through approximately 240 stores in 27 countries. The Company's segments are UK and International. The UK segment consists of stores in the United Kingdom and online sales to the United Kingdom addresses. The International segment consists of international franchise stores, the Company-owned stores in Denmark and the Republic of Ireland, and online sales to addresses outside the United Kingdom. The Company's stores trade under the name of Debenhams other than the Danish stores, which operate under the Magasin du Nord banner. Its stores offer customers a range of services, including restaurants and cafes, personal shopping assistance, hairdressing and beauty treatments, nail bars and wedding or celebration gift services. Its Debenhams Direct (www.debenhams.com) offers a range of products and services for online customers.
Whitman Howard is an independent institutional stockbroking and investment banking business focused on servicing the needs of our corporate clients and institutional investor base.
The company began trading in 2011 with a team of highly experienced market professionals and the goal of building a leading capital markets business in an entrepreneurial environment.
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