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Clothing behemoth shows its mettle in downturn

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This retailer is a class act. While its competitors are in free-fall, the damage to its own sales and profits has been nowhere near on the scale that was earlier feared.

The company has benefited from shoppers looking for quality and the backing of a familiar brand name in the middle of the price range.

As a result, sales for the year to 31 January 2009 fell less than expected, profits held at respectable levels and the dividend was maintained at a level putting the company on a 3.7 per cent yield.

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