Department store Debenhams has announced further plans for expansion across the UK with the opening of 17 more stores over the next five years, creating 1,700 jobs and adding more than £150million in sales.
They are however already in talks over a further 25 sites in the UK, to add to their current portfolio of 124 sites.
Currently the second largest department store in the UK, behind John Lewis, Debenhams announced the plans after they saw sales rise from £2.21 billion to £2.23 billion, in the year to September 1. Pre-tax profit slipped from £160.3 million to £158.3 million, reflecting an extra week last year. They also benefited from booming online sales, with internet revenue up 40% on last year to £250.6m, prompting it to increase its online target to £500m-£600m.
Overseas, where the company has 85 stores, the pipeline stands at 18 franchised stores over the next four years, with a further 50 in discussion. It has raised its target of potential overseas franchised stores from 130 to 150 over the next five years, from 71 at present.
One of the new site will be an 82,000 sq ft store at the £40m extension to the Southside Shopping Centre in Wandsworth in 2015.