Debenhams job cuts and store closures likely after disappointing sales

UK retailers struggle on high street and in shopping malls with falling revenue as shoppers move online
Debenhams is to cut jobs and consider more store closures after a poor festive trading period led to a major profits warning.Shares in the department store dropped by 15% to 30p, the lowest level since the 2008 financial crisis, after it warned that sales of seasonal gifts and clothing had fallen despite heavy discounting.Continue reading...