Debenhams has issued its third profit warning of the year, saying that annual pre-tax profits would be between £35m and £40m, below previous estimates of £50.3m. Management pointed to "exceptionally difficult times in UK retailing". Like-for-like sales from stores fell by 1.7% in the 15 weeks to 16 June. Digital sales grew 16% over the same period. There has been speculation about Debenhams selling a small printing firm it owns called Magenta. Other sales may be on the cards.

Press release on debenhams third profit warning