WH Smith halts Debenhams gift card sales fuelling more speculation over the department store future
WH Smith has stopped selling gift cards for department store chain Debenhams. There has been much speculation over Debenhams’ financial health, and earlier this month it rushed out a statement to try to reassure investors.
So far this year, Debenhams has issued three profit warnings and lost more than two-thirds of its share price.
No one from WH Smith was immediately available to explain the reasons for the move. Debenhams said it was aware of WH Smith’s decision.
“We are aware that WH Smith has temporarily ceased selling Debenhams Gift Cards,” a spokesperson from Debenhams confirmed. “We are in dialogue with WH Smith regarding this decision.”
Debenhams runs 182 stores in the UK, Republic of Ireland and in Denmark, where it operates under the Magasin du Nord name.