Debenhams (LON:DEB) trading figures plunged in the six weeks to March, after being hit by poor weather and forced store closures.

Underlying profit before tax fell 51.9 percent to £42.2 million during the period, with like-for-like sales declining 2.2 percent. The group attributed the fall to 100 forced store closures due to extreme weather in the last week of trading, as well as a tough High Street climate.

The department store chain cut its dividend and warned that profits for the full year will be towards the lower end of broker forecasts, currently standing at between £50 and £61 million.

The group also reported that its Chief Financial Officer, Matt Smith, had stepped down from his position to join Selfridges.

Sergio Bucher, group CEO, said it had “not been an easy” first half, adding:

“We approach the remainder of the year mindful of the very challenging market conditions, but with confidence that we have a strong team and the right plan to navigate them and return Debenhams to profitable growth.”

Debenhams (LON:DEB) shares sunk around 10 percent at market open, and are now trading down 8.67 percent at 21.30 (0840GMT).