Debenhams share price up on FTSE 250 as sales rise

Shares in Debenhams were up on the FTSE 250 in afternoon trading after the group reported a rise 43 weeks ended 25 June.

The group reported a rise in gross transaction value of 3.1 per cent. Like for like sales including VAT increased 1.1 per cent, while excluding VAT like for like sales dropped 0.4 per cent.

During the period the group opened three new stores in Great Britain.

Rob Templeman, Chief Executive of Debenhams, said, "We are continuing to make progress despite significant headwinds in the sector and are pleased with the performance of the business in the year so far. Looking forward, we remain cautious about the consumer environment and will continue to focus on growing cash margin through our self-help strategy of investing in our store portfolio, developing a seamless multi-channel business and managing our supply chain effectively."

By 16:15 shares in Debenhams were up 0.88 per cent on the FTSE 250 to 68.95 pence per share.