LONDON, April 20 Debenhams, Britain's
second-largest department store group, on Thursday detailed a
plan to return to growth by becoming more of a destination for
shoppers that is differentiated from rivals and has an enhanced
Following a strategic review by new Chief Executive Sergio
Bucher the group also plans to drive efficiency by simplifying
Debenhams said additional investment was required to upgrade
its mobile systems, supply chain and its store estate.
It said annual capital expenditure would be 150 million
pounds ($192.2 million) between full year 2018 and full year
2020 versus current annual capex of 130 million pounds.
It said total exceptional costs over 2017-2020 would be 50
million pounds of which approximately half would be cash.
Debenhams, which is second to No.1 department store chain
John Lewis by revenue, also said it made a pretax
profit of 87.8 million pounds ($112.5 million) in the 26 weeks
to March 4, down 6.4 percent from 93.8 million pounds in the
previous corresponding period.
($1 = 0.7806 pounds)
(Reporting by James Davey; editing by Kate Holton)