Department store group Debenhams saw full year profits meet expectations, but said that it remained cautious over the consumer environment.
Group like-for-like sales at the group rose 2%, with profit before tax falling 2.7% in line with expectations. Multichannel sales, meanwhile, continued to grow with online sales up 46.2%, representing 13.2% of group sales.

Michael Sharp, Chief Executive of Debenhams, said: "I am pleased with our performance in 2013 given the very difficult conditions.  We gained market share in key categories, demonstrating the competitiveness of our product offer.   We continue to deliver growth and additional customer benefits through our strong multi-channel capabilities.

At the same time, we are working hard to ensure our UK stores adapt to the challenge of their changing role in a multi-channel world. "Looking ahead, we remain confident in our strategy and are excited about the upcoming launch of our global flagship store on Oxford Street which coincides with the celebration of Debenhams' 200th anniversary.

"More widely, whilst consumer confidence may be showing signs of improvement, we expect that household incomes will remain under pressure from inflation growing ahead of wages. With this in mind, we remain cautious about the strength and pace of any consumer recovery in 2014 and expect the marketplace to remain highly competitive.