Debenhams to make year profit forecasts
LONDON, Sept 17
LONDON, Sept 17 (Reuters) - Debenhams will meet forecasts for 2012-13 profit as sales growth picked-up in its fourth quarter, Britain's No. 2 department store group said on Tuesday.
The 200-year-old firm, which trails employee-owned John Lewis by annual sales, said sales at stores open over a year rose 2 percent in the year to Aug. 31.
That compares with a flat outcome in the 16 weeks to June 22, its fiscal third quarter, and was in line with analysts' forecasts.
Prior to the update analysts were on average forecasting a full year pretax profit of about 153 million pounds ($243.81 million), down from 158.3 million pounds in 2011-12.
Forecasts had been cut after a profit warning in March that was blamed on January snow.
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