Debenhams confirms rising sales

<p>Sales are up at Debenhams, the firm announces.</p>

Sales are rising at Debenhams, it has been announced by the department store chain.

The firm revealed that it saw like-for-like sales increase by nearly two per cent in the three months to the end of August.

It was also announced by the company that it posted a 42.9 per cent rise in online sales.

Michael Sharp, chief executive of Debenhams, stated that he was pleased with the growth of the firm's sales, especially online. He added: "Looking forward, we are confident in our strategy but are not expecting any rapid recovery in consumer sentiment and the marketplace remains highly competitive."

Debenhams also confirmed in its release of the latest financial data that it had gained market share in womenswear and beauty ranges in the three-month period.

On the back of the news, the share price of the company rose by a substantial amount. At 15:38 BST this afternoon (September 17th), the firm's stock was trading 1.45 per cent up for the day.

Find up to date information on the FTSE 100 and spread betting strategies at City Index

Join our live webinars for the latest analysis and trading ideas. Register now

GAIN Capital UK Limited (trading as “City Index”) is an execution-only service provider. This material, whether or not it states any opinions, is for general information purposes only and it does not take into account your personal circumstances or objectives. This material has been prepared using the thoughts and opinions of the author and these may change. However, City Index does not plan to provide further updates to any material once published and it is not under any obligation to keep this material up to date. This material is short term in nature and may only relate to facts and circumstances existing at a specific time or day. Nothing in this material is (or should be considered to be) financial, investment, legal, tax or other advice and no reliance should be placed on it.

No opinion given in this material constitutes a recommendation by City Index or the author that any particular investment, security, transaction or investment strategy is suitable for any specific person. The material has not been prepared in accordance with legal requirements designed to promote the independence of investment research. Although City Index is not specifically prevented from dealing before providing this material, City Index does not seek to take advantage of the material prior to its dissemination. This material is not intended for distribution to, or use by, any person in any country or jurisdiction where such distribution or use would be contrary to local law or regulation.

For further details see our full non-independent research disclaimer and quarterly summary.