Debenhams is shopping around: Department store wants to sell Sport Direct products
DEBENHAMS is talking to Mike Ashley’s Sports Direct about selling his products as part of an overhaul of the department store chain’s business.
Sports Direct, which has a stake in Debenhams and owns brands including Slazenger and Lonsdale, is among 12 suppliers it is negotiating with to increase sales of branded products.
It is part of a shake-up by Debenhams following a tough Christmas which saw pre-tax profit in the 26 weeks to March fall by a quarter to £85.2million.
The results matched a revised profits warning and sent the shares 3óp higher to 81p.
The group is reducing promotions and rejigging space in 40 of its 158 UK shops to fi t in more products from popular brands such as Patrick Grant and Henry Holland.
It also plans to fit cafés or restaurants in 23 stores.
Chief executive Michael Sharp insisted that introducing more brands or concessions was not a U-turn on its policy of increasing Designers at Debenhams exclusive ranges.
“It’s not a change of strategy,” he said.
