Debenhams fails to tempt shoppers

Press Association
Debenhams stock
Debenhams stock

Debenhams warned of a 26% profits plunge today as a hoped-for sales surge in the last week before Christmas failed to materialise.

Shares in the department store chain fell as much as 13% as the trading update sparked market jitters over the rest of the retail sector, prompting a sell-off among a clutch of other big-name brands.