Retail in Asia

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Debenhams interim profits rise as own-bought strategy pays off

Department store group Debenhams has posted higher than expected interim profits after strong performances from its own-bought ranges and market share gains.

The retailer reported an 18.6 percent increase in profit before tax and exceptional to GBP123.6 million (USD190.6 million) on sales up 8.4 percent to GBP1.42 billion (USD2.19 billion) in the half-year to 27 February. Like-for-likes in the 31 weeks to 3 April rose 0.3 percent.

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(Source: Retail Week)