Sales at Debenhams for the year to August 29th were up by 1.3 per cent over the previous year, reaching £2.86 billion. Pre-tax profits had also increased to £113.5 million. Online sales had grown by 11.4 per cent to account for 13.6 per cent of all group sales, with mobile representing more than 40 per cent of total online sales. As the results were revealed, Michael Sharp announced that he would be stepping down from his role as CEO early in 2016 having led the business for five years. A successor has yet to be identified.
Looking ahead, Debenhams has struck a joint venture agreement with Pepkor SE Asia to launch into Australia and is also set to sell Debenhams products in Vietnam via the department store chain VinGroup. It will also open five new stores in the UK this Autumn
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