Debenhams defies mild winter as sales rise 1.8% over Christmas
Debenhams has withstood the warm winter that plagued the High Street in recent weeks and revealed record Christmas sales.
It outshone the likes of Marks & Spencer and Next with a 1.9% rise in like-for-like sales in the 19 weeks to January 9 and 1.8% increase over its seven-week Christmas period.
The department store added that it instigated a planned reduction in stock levels of "weather-sensitive" clothing, which allowed it to avoid the deep discounts some other retailers resorted to.
Sales of full price goods were up 5%.
Online was also a bright spot, with sales up 12.1% and click & collect accounting for 31% of orders.
Chief executive Michael Sharp, who will step down this year, said: "This performance is evidence that our strategy is working with our customers finding our mix of products and brands both compelling and great value for money."
Debenhams shares rose 15.1%, or 10p, to 76.47p on the back of the performance.
Liberum, which upgraded the stock to "Hold" from "Sell", said it was a "solid" trading update albeit against soft comparisons of a year earlier.
