MARKET TALK: Debenhams Update Disappointing - Panmure

0910 GMT [Dow Jones] Debenhams' (DEB.LN) 3Q trading update is disappointing, says Panmure Gordon. "A LFL sales decline of 1.5% for the first 16 weeks of 2H '10E compares with our expectation of 0.2%-0.3% LFL sales growth." Notes the company reports market share gains in men's and children's clothing, but not in the all-important womenswear battleground. Panmure prefers to recommended buying Next (NXT.LN) or Marks & Spencer (MKS.LN) shares. Places its hold recommendation and 68p price target under review. Shares +2.7% at 54p. (michele.maatouk@dowjones.com) Contact us in London. +44-20-7842-9464 Markettalk.eu@dowjones.com (END) Dow Jones Newswires July 01, 2010 05:10 ET (09:10 GMT)