LONDON Oct 24 Debenhams, Britain's
second-largest department store retailer by sales, met forecasts
with a 2.7 percent fall in year profit that reflected volatile
weather conditions, and said it was wary about the outlook for
"Whilst consumer confidence may be showing signs of
improvement, we expect that household incomes will remain under
pressure from inflation growing ahead of wages," said Chief
Executive Michael Sharp.
The 200-year-old group, which trades out of 236 stores
across 28 countries, said on Thursday it made a pretax profit of
154 million pounds ($248.98 million) in the year to Aug. 31.
That was in line with analyst expectations but down from the
158.3 million pounds made in the 2011-12 year.
Analyst forecasts had been cut after a profit warning in
March that was blamed on January snow. The firm then endured
unhelpful spring weather before getting a boost to sales from a
Full-year sales, announced last month, rose 2.5 percent to
2.78 billion pounds, with sales at stores open over a year up
2.0 percent and gross margin flat.