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£150m: Debenhams’ costly to-do list
This is the increased annual spend over the next three financial years Debenhams (DEB) has budgeted in order to upgrade its mobile systems, store estate and supply chain. It is a material hike from a current annual spend of around £130m.
Alongside half year results (20 Apr) showing a 6.4% drop in pre-tax profit to £87.8m, new boss Sergio Bucher unveiled his plan to revive the department store’s fortunes. ‘Debenhams Redesigned’ will look to tap into the trend towards ‘social shopping’ – shopping as a fun leisure activity shared with friends and family through social media.