Debenhams outlines turnaround strategy with stores set to close

Debenhams has detailed its new turnaround strategy, which will help to boost the department store as a ‘destination shop’ while also improving its online service.

The plan will see up to 10 of Debenhams’ 176 UK stores close over the next five years, while a central distribution and 10 smaller warehouses are also set to shut down.

Sergio Bucher, chief executive of the retailer, revealed that customers’ shopping habits were changing and so Debenhams must change.

Bucher said: "We will be a destination for social shopping, with mobile the unifying platform for interacting with our customers,” reports the BBC.

Meanwhile, Debenhams also revealed that its half-year pre-tax profits fell by 6.4 per cent to £88 million.

Shares were also down by around five per cent following the announcement.

The company also revealed leisure activities were making up an increasing share in consumer spending, and this was an important part of shopping, while mobile interaction was also accelerating.

About Robert Hutchins

Robert Hutchins is the editor of Licensing.biz and ToyNews. Hutchins has worked his way up from Staff Writer to the position of Editor across the two titles, having spent almost eight years with both ToyNews and Licensing.biz, and what now seems like a lifetime surrounded by toys. You can contact him by emailing robert.hutchins@biz-media.co.uk or calling him on 0203 143 8780 You can even follow him on Twitter @RobGHutchins if ranting is your thing...

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