By Jonathan Davies
Debenhams is 'stuck in limbo' after reporting no sales growth in the third quarter, according to retail consultancy, Retail Remedy.
The UK's second largest department stores chain said like-for-like sales, which exclude new stores, in the 15 weeks to 13 June were flat. But Debenhams says it is still on track to achieve its full-year growth targets.
“Debenhams’ sales, much like its image, are stuck in limbo," said Paul Thomas, from Retail Remedy.
“Given the tired feel of many of its older stores, some will view its dead flat sales numbers as a modest success.
“But you can’t help feeling that in many instances the once venerable brand is living on borrowed time."
Debenhams chief executive Michael Sharp said: “Our customers tell us that, whilst they recognise the improving economic background, they remain cautious in their spending."