Debenhams shares surge as turnaround finally returns retailer to growth

Debenhams Group has said its multi-year turnaround is beginning to accelerate after it returned to growth in its first quarter.
The retail group, which is listed on AIM as Boohoo, reported a 0.5 per cent rise in gross merchandise value in the three months to 31 May, while gross margin expanded to 53.5 per cent from 52.1 per cent a year earlier.
Trading strengthened significantly in May, with gross merchandise value up around eight per cent year on year.
Debenhams and PrettyLittleThing were the g