Debenhams is expected to this week report a rise in pre-tax profits for the first time in four years, giving breathing room to its management team who were subject to an attempted coup last month.
Analysts predict the UK’s second-biggest department store chain will post full-year operating profits of £133.9m on Thursday, after posting £89m in the first half of the year, according to the Telegraph.
The company’s management will breathe a sigh of relief if predictions are true. It follows efforts by City stockbroker Cenkos Securities to rally support for a boardroom coup following a long period of weak trading.
The struggling business’s chairman Nigel Northridge is understood to have already interviewed at least one candidate to take over from chief executive Michael Sharp.