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Debenhams unveils 'Redesigned' strategy for efficiency
Apr '17
Debenhams plc, a British multinational retailer, has unveiled a new strategy, 'Redesigned', aimed to drive efficiency by simplifying and focusing on business and deliver growth by becoming a destination, digital and different. The company's gross transaction value (GTV) went up 2.9% to £1,676 for the 26 weeks to March 4, 2017, said in its interim results.

During the review, it was identified that the company should increase frequency of visit both on and offline as leveraging existing assets, including good stores in strong locations; leading market positions in key product categories; and profitable and growing international business. It should become a destination for 'Social Shopping' and offer exciting new products, services and experiences, as well as building on category strengths. In order to increase the efficiency, the company should test new concepts and formats for stronger and more relevant brand and category presentation and also evaluate store and brand portfolio.

The financial result of the company showcased that the Group's revenue increased by 1.8% to £1,351.1 million. Online sales grew 14.6% for the half year. GTV for the UK segment increased by 0.6% to £1,344.7 million and reported revenue reduced by 0.3% to £1,106.3 million. The GTV growth was a result of continued online sales growth which contributed to a strong Christmas period. In the International segment gross transaction value of £331.8 million was 13.6% higher than last year and reported revenue increased by 12.6% to £244.8 million.

"Our customers are changing the way they shop and we are changing too. Shopping with Debenhams should be effortless, reliable and fun whichever channel our customers use. We will be a destination for 'Social Shopping' with mobile the unifying platform for interacting with our customers. If we deliver differentiated and distinctive brands, services and experiences both online and in stores, our customers will visit us more frequently and, having simplified our operations to make us more efficient, we will be able to serve them better and make better use of our resources," Sergio Bucher, chief executive of Debenhams, said. (RR)

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