Proactive Investors
03 Jun 2026, 06:50 UTC · 1h ago
Boohoo expects 'material' improvement in profits from Debenhams turnaround
Proactive Investors
03 Jun 2026, 06:50 UTC · 1h ago
Story key points
5 claims · impact-rated
Boohoo Group PLC reiterated guidance for double-digit adjusted EBITDA growth in the current financial year from the £53 million 2026 baseline. — Explicit guidance for double-digit growth in a key profitability metric is a strong positive driver for valuation.
+0.60The company expects its net debt to adjusted EBITDA ratio to fall below 1x this year via trading cash flow and property disposals. — Significant deleveraging reduces financial risk and improves the balance sheet profile.
+0.50Gross merchandise value (GMV) grew 0.5% in the first quarter, with growth accelerating to approximately 8% in May. — The return to growth and the acceleration trend signal that the turnaround program is gaining traction.
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Gross margin increased to 53.5% from 52.1% year-over-year, aided by a 5% reduction in returns rates. — Margin expansion and lower return rates indicate improved operational efficiency and better unit economics.
Exceptional costs decreased by 72% and capital expenditure dropped by 54% year-on-year. — Reduction in one-off costs and Capex supports the path toward positive free cash flow.
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Model heads
The company reported a return to growth in Q1, materially stronger profitability, and improved margins.
The company announced a new three-year collaborative project for solid-state batteries.
Mentioned as a collaborative partner in a new technology project.
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