British Department Store Debenhams Fell 5.6% On Wednesday.

British chain

Group Debenhams PLC (DEB.L) sales in the last three quarters were affected by retail sales in the UK.

Downturn and

Overall demand is weak, core sales data continue to decline.

Debenhams PLC (DEB.L) fell 5.6% on the day after its announcement on Wednesday.

MichaelSharp, the outgoing CEO of Debenhams PLC, pointed out that people spend more money on holiday spending, dining out and cars and other experiential consumption, thus reducing clothing purchases. From the beginning of this fiscal year, the British retail environment began to become more weak, and the instability of Europe was unsettled, and the calendar effects of Easter, mother's day and father's day were also obvious.

A number of reasons led to a 0.2% decline in group store sales in the first 15 weeks to June 11th, and a decline of 1.6% over fixed exchange rates.

But independent retail analyst NickBubb thinks such a decline is enough to ease the market.

Due to the summer vacation approaching, Michael Sharp revealed that swimsuits, suitcases and all holiday related products were popular at the time, but other seasonal costumes, especially women's clothing, did not perform well.

The group now cuts the growth rate of gross profit margin from 0-50 base points to zero for the year, while the pre tax profit forecast has maintained the previous forecast and is expected to meet the market expectation level of 119 million pounds.

Citigroup Inc. (NYSE:C) Citigroup analysts say the latest performance data will lower the market expectations of pre tax profits by 2%-3%.

Chief executive officer of Debenhams PLC, British department store, Michael Sharp

Michael Sharp will quit on Friday, 24 Japan, and end its five year service in Debenhams PLC, taking over Sergio Bucher, vice president of European fashion business at Amazon.comInc. (NASDAQ:AMZN) Amazon, which will not be new until October.

Before joining the electric giant, Sergio Bucher worked in PumaSE (PUMG.DE) Puma. It was also one of the founders of the underwear brand Oysho of the world's largest apparel retailer, InditexSA (ITX.MC).

Over the past five years, Michael Sharp has successfully developed categories of beauty and food for Debenhams PLC and reduced its reliance on discounts, but in recent years, Debenhams PLC has struggled and issued several earnings warning.

He said yesterday that the group would not go bankrupt like its domestic BHS.

Before leaving, MichaelSharp introduced more simple dining rooms and food counters to the group to adapt to the changing trend of consumption.

Debenhams PLC (DEB.L) on Thursday did not follow the market's rise to the outcome of the European market, but continued to fall, falling 2.73% to 67.80 pence at the end of the deadline, which has fallen by 24.5% in the past 52 weeks.