Date: Tuesday 08 Jan 2013
LONDON (ShareCast) - Michael Sharp, the Chief Executive of retail giant Debenhams, purchased 100,000 shares on Tuesday, the same day the company reported a strong end to 2012, including record levels of sales in December, but warned heavy discounting had hit margins.
Sharp, who was appointed to the role in September 2011, bought the shares at 109.5p a time, spending a total of £109,500.
In the 18 weeks to 5th January, total sales values increased by 3.5%, while like-for-like sales grew by 2.9%.
Over the five weeks to 5th January like-for-like sales increased by 5% compared to the year before and by 8.5% on 2010.
However, the firm said margins took a battering as customers looked for bargains ahead of Christmas as well as in the traditional sale period.
"We now expect gross margin for the year to be 10 basis points higher than last year rather than 20 basis points as previously guided," Debenhams commented.
Top Director Buys
Debenhams (DEB)
Director name: Mr Michael Sharp
Amount purchased: 100,000 @ 109.50p
Value: £109,500
SerVision (SEV)
Director name: Mr Gidon Tahan
Amount purchased: 1,075,269 @ 4.38p
Value: £47,097
Polar Capital Technology Trust (PCT)
Director name: Mr Peter Hames
Amount purchased: 6,000 @ 377.26p
Value: £22,636
Kentz Corporation Ltd. (KENZ)
Director name: Mr David MacFarlane
Amount purchased: 5,585 @ 392.08p
Value: £21,898
Top Director Sells
Delcam (DLC)
Director name: Mr Edward B Lambourne
Amount sold: 60,000 @ 1,000.00p
Value: £600,000
Delcam (DLC)
Director name: Mr Hugh Humphreys
Amount sold: 60,000 @ 1,000.00p
Value: £600,000
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