Why did Boohoo Group decide to keep the PrettyLittleThing brand?

Boohoo Group decided to keep PrettyLittleThing because of its successful revival and improvement in profitability.

What are Boohoo Group's updated profit expectations?

The Debenhams Group, formerly Boohoo, now expects profits of £50 million for the fiscal year ending February 28.

How much did Debenhams Group's losses narrow in the first half of the year?

The Debenhams Group narrowed its losses to £2.5 million in the first half of the year, down from a £130 million loss a year earlier.

Home / Business and Economy / Boohoo Owner Keeps PLT Amid Profit Turnaround

Boohoo Owner Keeps PLT Amid Profit Turnaround

29 Jan

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Summary

Boohoo Group expects £50m profit, up from £45m forecast.
Debenhams Group narrowed first-half losses to £2.5m.
PrettyLittleThing's revival leads to profit improvement.

Boohoo Owner Keeps PLT Amid Profit Turnaround

The Debenhams Group, which rebranded from Boohoo, has abandoned plans to divest its PrettyLittleThing brand, signaling a successful turnaround for the business. The group has revised its profit expectations upwards, now forecasting approximately £50 million for the fiscal year concluding on February 28, a notable increase from the earlier projection of around £45 million.

This upward revision is largely attributed to the impressive revival and enhanced profitability demonstrated by the PrettyLittleThing brand. Consequently, the company has opted to retain ownership of this successful asset, while continuing to assess the potential sale of other non-core business segments to address outstanding debts.

During the first half of the fiscal year, the group reported a narrowed loss of £2.5 million for the six months ending August 31. This represents a significant improvement compared to the £130 million loss recorded in the same period the previous year. The positive financial trajectory is particularly driven by the online Debenhams brand, which experienced growth in gross merchandise value and earnings.