DEPARTMENT store Debenhams has brushed aside fears it is losing out to a resurgent Marks and Spencer as it reported a five per cent jump in profits.
Chief executive Belinda Earl said, yesterday: "There is room for both of us on the high street" and spelled out aggressive expansion plans.
Debenhams, which has a store in Worcester's High Street, wants to attract five million new customers over the next five years by opening dozens of new stores in the UK and overseas.
Two more have been added to the pipeline, in Workington, Cumbria, and in Cork, in the Republic of Ireland, which will take Debenhams' store base in the UK and Ireland to 111 by 2006.
Pre-tax profits rose to £153.6m in the 12 months to August 31, up from £146.1m a year ago and in line with City expectations.
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