Sep 10, 2018

Debenhams rushes out trading update after shares drop

Debenhams rushed out a trading statement on Monday to reassure investors after a sharp share-price fall triggered by reports it was considering a financial restructuring. Debenhams responded with a statement that it expected pre-tax profit before exceptional items to be within current forecasts, giving the shares a lift. Debenhams reports results for the year to September 1 on October 25. New product launches were being well received despite further deterioration in the trading environment, Debenhams said. Mark Williams, the president of retail property association Revo, said the statement showed Debenhams failed to meet the criteria for a CVA "By a country mile".

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