DEBENHAMS is expected to have seen its ongoing makeover pay off this week when it reports a modest improvement in profits.
The City expects the high street stalwart, which has 162 UK stores and more than 240 outlets worldwide, to report annual pre-tax profits up 1.4 per cent to about £112 million as its refreshes its ranges, cuts back on sale days and launches more concessions.
Analysts at Numis forecast the group will post marginally positive like-for-like sales in the latest quarter, as it shifted many of its promotions into the company’s first half, producing three fewer days of special offers.
Debenhams has been overhauling its ranges as part of a turnaround plan to boost sales. A number of stores carry clothes by designers such as Savannah Miller, Ben de Lisi and Hammond & Co by Patrick Grant and childrenswear by Ted Baker and J by Jasper Conran.
The chain is also renting out some of its under-used floor space to other retailers in a bid to boost revenues.