Debenhams says like-for-like sales rose in its first half, but the department store chain has stayed tight-lipped on the progress of its long-running takeover saga.
The firm said sales were up 3.9 per cent in the 26 weeks to August 30th, stripping out the effect of new and closed stores. It said the gross margin for the period was up by 0.7 percentage points.
Debenhams, whose merchandise ranges from womens' fashion to housewares, in July recommended a £1.54 billion sterling takeover offer from private equity firm Permira amid gripes from shareholders that the price was too low.
But the firm left the way open for a possible higher bid from private equity firms CVC and Texas Pacific Group, stressing it was still talking to the two about a rival deal.
Debenhams had to recommend the bid at 425 pence per share to avoid paying an agreed £6 million compensation to Permira.
Department stores such as Debenhams, Selfridges and House of Fraser have attracted bid interest as financiers take advantage of cheap borrowing costs to buy companies rich in property assets that generate a lot of cash.