boohoo group (DEBS) H2 2026 earnings summary

Executive summary

• Achieved GBP 53.3 million of adjusted EBITDA in FY 2026, a 34.6% increase year-over-year.

• Marketplace model is central to the turnaround, driving agility and scalability.

• All brands are profitable at the adjusted EBITDA level.

Financial highlights

• Marketplace now represents 34% of total GMV, with a 27% EBITDA margin.

• Debenhams brand GMV grew at a 54% CAGR from FY 2022 to FY 2026, reaching GBP 730 million.

• Debenhams brand adjusted EBITDA rose to GBP 34.8 million, up 38.5% year-over-year.

• GBP 15 million improvement in adjusted EBITDA for the main young fashion brand in the last 12 months.

• Fixed costs reduced from GBP 292 million in FY 2024 to GBP 119 million exit rate in FY 2026.

Outlook and guidance

• Marketplace GMV targeted to reach at least 50% of total GMV.

• Expecting double-digit percentage growth in adjusted EBITDA for FY 2027.

• Net debt on track to be reduced to less than 1x adjusted EBITDA.

• Fixed costs projected to fall to GBP 100 million by FY 2028.