'One-stop' Debenhams hails festive success

Department stores chain Debenhams today staked its claim to be one of the Christmas winners by posting a 6.5% leap in underlying sales.

Debenhams said it had benefited from being a one-stop shop and the ongoing success of its Designers at Debenhams ranges, which means that half of its products are exclusive.

Michael Sharp, the chief executive of Debenhams, which has 170 UK stores, said: "We have traded as well as the best if not better than most of our competitors." He also hit back at critics of its frequent promotions by saying this is a 30-year old strategy of the group and it was no more promotional than last year.

Like-for-likes sales at Debenhams powered ahead by 6.5% for the five weeks to 31 December. Mr Sharp said: "We are very pleased with these numbers. What is particularly encouraging is that we saw our strongest Christmas week ever." Total sales at Debenhams rose by 0.5% over the 18 weeks to 7 January.

Shares in Debenhams rocketed by 5.7p, or 10%, to 62.6p. The retailer's online business delivered a 35% jump in festive sales.

The best-performing designer range was the young fashion range H by Henry Holland.