Department store chain Debenhams today unveiled plans to open a further 17 shops in the UK over the next five years, including a branch at Fort Kinnaird in Edinburgh, after the company enjoyed a “resurgent” year on the high street.
The firm – which already has branches on Princes Street and Ocean Terminal in the Scottish capital – will create 1,700 jobs and add more than £150 million in sales through the expansion drive.
Debenham’s plans also include opening a further 20 franchised stores overseas and expanding its online service to a further 30 nations.
The company has refurbished 18 shops over the past year and plans to hire 6,500 extra staff for the run-up to Christmas, its largest recruitment driver ever, with the chain already flooded by 150,000 applications.
News of the expansion came as the group reported a 4.2 per cent rise in pre-tax profits to £158.3 million for the year to 1 September after a recent sales revival.
Exclusive ranges from a star line-up of fashion designers – including Henry Holland and Julien MacDonald – helped the group grow its share of the competitive womenswear market, with group-wide like-for-like sales up 1.6 per cent excluding VAT over the year.
Debenhams chief executive Michael Sharp said: “Achieving strong sales and profits despite a very difficult market is testament to the success of our great value and stylish products. I’m delighted with these results.”
Seymour Pierce analyst Freddie George said: “Management has done a good job of steering the business through the prolonged downturn.”