Debenhams Struggles after Poor Christmas Trading
Sports Direct has taken a 4.6% Stake in Debenhams Department Store
Original article here.
Debenhams holds 11 stores across Ireland, and had reported profits of €9.5 million on sales of €162.5 million in the year to September 2012. However over Christmas 2013 the department store issued a profit warning, due to poor Christmas sales, even after heavily discounting.
The UK’s largest sports retailer, Sports Direct has recently attained a 4.6% stake in the department store. This will allow the retailers to work together with the hope to increase sale performance.