Debenhams appoint ex-Home Retail boss as non-executive director
Department-store chain Debenhams appointed former Home retail chief executive Terry Duddy as a non-executive director.
Debenhams
1.83p
15:45 08/04/19
FTSE 250
19,824.16
16:59 26/04/24
FTSE 350
4,470.09
16:59 26/04/24
FTSE All-Share
4,423.59
17:14 26/04/24
General Retailers
3,910.25
16:59 26/04/24
Duddy is also chair of the Retail Trust and non-executive director of Hammerson and joins the board as the group hopes to improve its margins after it reduced its forecasts for 2015.
Debenhams' chairman Nigel Northridge said: " He has had a long and distinguished career in retail and his experience and expertise will be a great addition to the board."
The group said at interim results in January that gross margins for the year ending August 2015 will likely be “towards the lower end the guidance of +10 to +40 basis points”.
The high-street retailer scaled back its forecast for margin improvement due to strong sales of lower-margin products (beauty and some concession brands) over the Christmas period and a poor clothing performance.
Shares in Debenhams were up 1.62% to 78.25p on Friday at 13:24.