British department store chain Debenhams has met forecasts with a 2.7% fall in full-year profit that reflected volatile weather conditions.
The 200-year-old group, which trades out of 236 stores across 28 countries, made a pretax profit of £154 million in the year to 31 August.
That was in line with analyst expectations but down from the £158.3 million made in the 2011-12 year.
Analyst forecasts had been cut after a profit warning in March that was blamed on January snow. The firm then endured unhelpful spring weather before getting a boost to sales from a summer heat-wave.
Full-year sales, announced last month, rose 2.5% to£ 2.78 billion, with sales at stores open over a year up2% and gross margin flat.
In its results the company also warned about the outlook for consumer spending.
Though data and surveys have indicated the outlook is improving for consumer spending, retailers are generally still cautious as inflation continues to outpace wage rises.
Debenhams said it expected household incomes to remain under pressure.
"We remain cautious about the strength and pace of any consumer recovery in 2014 and expect the marketplace to remain highly competitive," chief executive Michael Sharp said.
Shares in Debenhams, up 29% over the last six months, closed yesterday at 110.4 pence, valuing the business at £1.36 billion.
The firm is paying a full-year dividend of 3.4 pence, up from 3.3 pence last year.