Debenhams plans to open nine new stores during the next two years, the retailer confirmed today.
Debenhams will open five new department stores and two new Desire stores in the 2010 financial year, and one new department store and one re-sited department store in 2011.
The retailer opened 249,000 sq ft of new shops during the 26 weeks to 28 February 2009.
Its average space increased by 4.6% during the half, taking total space to just under 11m sq ft.
It opened new stores in Livingston, Great Yarmouth, Wrexham, Westfield London and Bury St Edmunds.
Debenhams said that returns from new stores continued to be attractive and that all new stores opened year-to-date were performing in line with, or better than, expectations.
Debenhams saw an 11.1% increase in pre-tax profits from £92m to £102.2m for the six months to the end of February, while like-for-like sales fell by 3.6%.
Debenhams chief executive Rob Templeman said: “There is much to look forward to in the second-half, particularly in relation to the development of own-bought product ranges with the expansion of some existing brands and the launch of a number of exciting new brands throughout the store at the end of the summer.
“The second-half has started well with improvements in gross transaction value, like-for-like sales and gross margin.
“That said, we remain cautious about the outlook for consumer confidence for the remainder of the year and we will continue to run the business accordingly, with an ongoing focus on cash profit.”
