In the first half to March 3, the retailer's like-for-like sales fell 4.5 per cent. Overall sales for the half were up 5.8 per cent to£1.29 billion and pre-tax profits rose 34.4 per cent to£105.5 million.
However, like-for-likes slid 6.9 per cent and sales were up just 2.9 per cent from March 4 to April 15.
Debenhams chief executive Rob Templeman said: 'Although the comparative period last year was particularly strong, sales achieved during these weeks are below our expectations. Clearly it is very early in the period but, given this trend, we must plan on the basis that like-for-like sales performance may be negative in the second half. We expect profit for the year to be below current market expectations.'
During the first half, the Debenhams web site was launched fully. The company also launched its Mantaray and Gorgeous own-brands and Roches store conversions are ahead of schedule.
In the 26 weeks to March 3, 132 department stores were opened with a pipeline of 29 contracted new stores. On the international front, 32 stores were opened, including stores in Germany and Russia. A further 20 stores are contracted.
Templeman said the Debenhams store refurbishment programme is to be accelerated significantly. He said: 'During the past 18 months we have necessarily focused our capital expenditure on store openings and acquisitions including Allders and Roches. We are now planning to refit about 60 of our stores in the next 18 months. The refits may cause some disruption, but this investment will ensure that Debenhams stays at the forefront of the UK retail market.'
He added: 'I am confident that our investment in product, value, service and our stores will drive like-for-like sales later in the year.'
Separately, non-executive director Guido Padovano has resigned with immediate effect. The company said it is to allow him more time for his other business interests - as managing director of the Merrill Lynch Global Private Equity Division.
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