(Reuters) – Debenhams warned on profit again on Tuesday, as the British department store group edged nearer to a restructuring that analysts expect will include a share issue and an acceleration of its store closure plans.
FILE PHOTO: Shoppers walk past the Debenhams department store on Oxford Street in London, Britain December 15, 2018. REUTERS/Simon Dawson/File Photo
Shares in Debenhams, which has struggled to keep pace with consumers moving online and to cheaper rivals, fell as much as 12 percent after the retailer said it was no longer on track to hit previous profit guidance. The shares have lost more than 89 percent year-on-year.
The share price slump reflects a structural shift in British retail towards online shopping, subdued con…
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