Debenhams provided earnings guidance for the year 2018. The company expected to report pre-exceptional pre-tax profit for financial year 2018 of around £33 million, within the current market range of £31 million to £36.5 million, and EBITDA of around £157 million. Consistent with focus on managing cost and cash generation, the company anticipates year end net debt will be approximately £320 million, in line with guidance and retaining significant headroom on £520 million medium term facilities. The company has continued to strengthen financial position, including increasing headroom on fixed charge covenant as announced on 1 August 2018, in order to give comfortable liquidity through the peak borrowing period, ensuring maximum flexibility amidst volatile market trading conditions. The early weeks of the new season have shown more positive trends and any sustained upturn would result in a rebound in profit performance.