Department store group Debenhams said it planned to return up to £100 million to shareholders through a buy-back programme starting this summer.
The group said its objective was to maximise shareholder value and maintain an efficiently-structured balance sheet.
Finance director Matthew Roberts said: "We are in a position to return up to £100 million to our shareholders without compromising our ability to continue to invest in our business."
The group has announced plans to accelerate its programme to expand from 97 stores to 150.
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