Debenhams beefs up expansion plan
Debenhams unveiled plans today to open four new department stores and a clutch of boutique-style shops around the UK.
The news came as the chain revealed it had secured the leasehold of nine Roches Stores outlets for €29m.
Debenhams said around 900 jobs would be created at the new shops at White City, Bury, Livingston and Newport in the UK.
The stores are on top of a pipeline of 21 UK shops it intends to open by 2011, which includes recently-opened outlets in Doncaster and Workington in England.
It also confirmed smaller Desire stores will be trading before Christmas at Birmingham, Kirkcaldy in Scotland and Merthyr Tydfil in Wales.
The shops are aimed at market towns and offer a more select range of fashions, a perfume department and lingerie section, as well as a café.
The Roches Stores outlets acquired by Debenhams are in Henry Street, Dublin; Blanchardstown; Blackrock; Tallaght; Cork; Limerick; Tralee; Galway and Waterford.
The firm, which intends to rebrand the stores within the next six months, said it expects the acquisition to be “earnings enhancing” by August 2008.
Chief executive Rob Templeman said: “There are significant opportunities to grow our department store portfolio across the UK and Republic of Ireland.
“We are pleased to announce the acquisition of the stores in the Republic of Ireland, which will considerably boost our local presence.”
The company, which floated on the London Stock Exchange in May, currently has 135 shops in the UK and Ireland.
It incurred the wrath of unions last month after revealing it was set to close its final salary pension to both new and existing members.
