Debenhams

Debenhams' profit margin gains offset sales fall

Debenhams' profit margin gains offset sales fall

According to Debenhams (DEB.L), Britain's second-biggest department store group, a fall in underlying quarterly sales was counter balanced by rising profit margins as it gained share in a tough retail market it expected to get tougher.

Chief Executive Rob Templeman, echoing comments from other UK retailers, said on Thursday, that tax increases and public sector spending cuts announced in the coalition government's June 22 emergency budget would lower down consumers’ confidence and disposable income.