{"id":143099,"date":"2018-06-19T07:21:11","date_gmt":"2018-06-19T07:21:11","guid":{"rendered":"http:\/\/freeonlinetranslators.net\/news\/english\/debenhams-issues-another-profit-warning\/"},"modified":"2018-06-19T07:21:11","modified_gmt":"2018-06-19T07:21:11","slug":"debenhams-issues-another-profit-warning","status":"publish","type":"post","link":"https:\/\/freeonlinetranslators.net\/news\/english\/debenhams-issues-another-profit-warning\/","title":{"rendered":"Debenhams issues another profit warning"},"content":{"rendered":"<figure>                                  <img decoding=\"async\" alt=\"Debenhams store\" src=\"https:\/\/ichef.bbci.co.uk\/news\/320\/cpsprodpb\/16A65\/production\/_100937729_pvzca4y8.jpg\"\/>Image copyright                  Reuters                                                    <\/figure>\n<p class=\"caps\">Debenhams has said its full-year profits are expected to fall below expectations, the third time this year it has issued a profit warning.<\/p>\n<p>The department store blamed &quot;increased competitor discounting and weakness in key markets&quot; for the profit shortfall.<\/p>\n<p>It said pre-tax profits for the full year would come in between \u00a335m and \u00a340m, below estimates of \u00a350.3m.<\/p>\n<p>Debenhams&#039; latest profit warning comes despite a turnaround plan designed to cut costs and boost sales.<\/p>\n<p>Debenhams&#039; shares fell more than 16% in early trading.<\/p>\n<p>Chief executive Sergio Bucher pointed to &quot;exceptionally difficult times in UK retail&quot;, adding: &quot;We don&#039;t see these conditions changing in the near future.&quot;<\/p>\n<p>Debenhams latest warning adds to a chorus of recent woes on the UK High Street. <\/p>\n<p>House of Fraser, Marks &amp; Spencer and Mothercare have all announced store closures this year. <\/p>\n<h2>Third warning<\/h2>\n<p>Debenhams said sales had been fallen in May and June thanks to rivals&#039; discounting and weak consumer spending.<\/p>\n<p>Like-for-like sales, which reflect sales at stores open for more than a year, fell by 1.7% in the 15 weeks to 16 June. Digital sales grew 16% over the same period. <\/p>\n<p>Mr Bucher who joined Debenhams in 2016, has launched a turnaround plan, putting more emphasis on food and beauty and less on fashion, limiting promotions and improving the firm&#039;s online platform. <\/p>\n<p>However, in January the chain warned profits would be lower this year after a disappointing Christmas trading period.<\/p>\n<p>In April, its chief financial officer left as the retailer warned that the cold weather in late February, known as &quot;the Beast from the East&quot;, would eat further into profits. <\/p>\n","protected":false},"excerpt":{"rendered":"<p>Image copyright Reuters Debenhams has said its full-year profits are expected to fall below expectations, the third time this year it has issued a profit warning. The department store blamed<\/p>\n","protected":false},"author":1,"featured_media":143100,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-143099","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-english"],"_links":{"self":[{"href":"https:\/\/freeonlinetranslators.net\/news\/wp-json\/wp\/v2\/posts\/143099","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/freeonlinetranslators.net\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/freeonlinetranslators.net\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/freeonlinetranslators.net\/news\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/freeonlinetranslators.net\/news\/wp-json\/wp\/v2\/comments?post=143099"}],"version-history":[{"count":0,"href":"https:\/\/freeonlinetranslators.net\/news\/wp-json\/wp\/v2\/posts\/143099\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/freeonlinetranslators.net\/news\/wp-json\/wp\/v2\/media\/143100"}],"wp:attachment":[{"href":"https:\/\/freeonlinetranslators.net\/news\/wp-json\/wp\/v2\/media?parent=143099"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/freeonlinetranslators.net\/news\/wp-json\/wp\/v2\/categories?post=143099"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/freeonlinetranslators.net\/news\/wp-json\/wp\/v2\/tags?post=143099"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}