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Department store looks to former Amazon exec for answers
Thursday 19 Jan 2017 Author: William Cain

Pre-tax profit at Debenhams (DEB) looks set to drop £29m to £85m over the two years to August 2018, according to analysts at Haitong.

New chief executive Sergio Bucher, recruited from Amazon in 2016, will in April tell shareholders how he expects to turn around
the department store’s fortunes.

Haitong analyst Tony Shiret says fresh thinking is needed to improve Debenhams’ clothing sales. Its strategy during 2016 has been to shift sales towards lower margin gifts and cosmetics which is one of the reasons for the retailer’s falling profitability.

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