Debenhams faces its biggest loss EVER!!!

by - Thursday, October 25, 2018

Debenhams is preparing to announce a loss of almost £500m for the year to September, its biggest annual loss since it started trading more than 205 years ago.



I really do love to shop at Debenhams, it's my go to store especially for my 3 year old daughter.. Ted Baker being one of my favourite concessions at Debenhams and it will really hurt if my local store closes down.

I mean it's 2018 and majority of our shopping is now done conveniently online with almost all online retailers offering free next day delivery... Especially if you are a working professional, you can just have your items delivered to your work address (very handy) or to your home..


 Its a shame that the troubled department store swung to a loss of almost £500m for the year to September 1, its biggest annual loss since it started trading more than 205 years ago, compared to a £59m profit in 2017.
The main drivers for the loss are write downs worth more than half a billion pounds connected to goodwill and store impairments linked to store leases and computer systems.
Like-for-like revenue dropped 2.3pc over the period, while total sales for the year also fell 1.8pc to £2.9bn. 
I'l update if there's more news to this but at the moment, this is all that has been reported.

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