Newspaper article The Journal (Newcastle, England)

Debenhams Boosts Foreign Exchange Service

Newspaper article The Journal (Newcastle, England)

Debenhams Boosts Foreign Exchange Service

Article excerpt

DEBENHAMS is expanding its foreign exchange services as part of plans to widen its appeal to customers.

The department store is partnering with Western Union in 112 of its stores to offer global money transfer to shoppers.

Western Union already partners with several major retailers, including John Lewis, WHSmith and Sainsbury's.

The news comes as Debenhams pushes ahead with plans to improve its consumer offering amid flagging sales and profits.

Debenhams saw its half-year profits plunge nearly 85% from PS87.8m to just PS13.5m over the 26 weeks to March 3, with like-for-like sales falling by 2.2%.

The department store is facing severe structural pressures and the firm has started shifting its focus away from fashion towards beauty products and gifts.

Andy Newman, head of personal finance at Debenhams, said: "We are really excited to be working with Western Union to provide a fantastic travel money service to our consumers nationwide. …

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