Business
Trading Statement
Boohoo Group Plc has announced a strong trading update for the year ending 28 February 2026, with Adjusted EBITDA comfortably exceeding guidance at £53 million, a 36% year-on-year increase driven by a 76% rise in the second half. The company has raised its FY27 guidance, expecting double-digit Adjusted EBITDA growth from the FY26 outturn, and anticipates net debt to fall below 1x Adjusted EBITDA by the end of FY27, down from under 2x currently. Significant cost reductions have been achieved, with fixed costs exiting FY26 at £119 million, and further reductions to £100 million are targeted for FY27. The transition to an asset-lite marketplace model is progressing well, with improvements in gross merchandise value trends and a focus on free cash flow generation, supported by reduced lease costs and capital expenditure. Disclaimer*
About this update from Boohoo Group Plc
For Immediate Release 30 March 2026 This announcement contains inside information for the purposes of the Market Abuse Regulation (EU) No. 596/2014 (as amended) as it forms part of the domestic law of the United Kingdom by virtue of the European Union (Withdrawal) Act 2018 (as amended). boohoo group plc ("Debenhams Group", the "Group" or the "Company") Trading update for the year to 28 February 2026 · Comfortably ahead of previous guidance at £53m Adjusted EBITDA delivered for FY26 (+36%) · 76% increase in H2 Adjusted EBITDA · FY27 guidance raised with the higher £53m FY26 Adjusted EBITDA outturn expected to grow double-digit % in FY271 · Net debt under 2x Adjusted EBITDA and guiding to 1x Adjusted EBTDA at the end of the current year to February 2027 The Board is pleased to announce its forecast delivery of £53 million Adjusted EBITDA2 in the financial year to 28 February 2026 ("FY26"). This is comfortably ahead of the previously upgraded guidance in the Company's Trading Update announcement dated 28 January 2026. This year on year 36% increase in full year Adjusted EBITDA is driven by a 76% increase in H2 Adjusted EBITDA. The Board remains confident of double-digit Adjusted EBITDA growth in the financial year ending 28 February 2027 ("FY27"). The final quarter of 2026 continued to see material improvements in the Group's GMV trend, delivering three consecutive quarters of GMV decline improvement, exiting February -5% below last year. Dan Finley, Group CEO, said: "Our multi-year turnaround strategy continues at pace. We are pleased with the 76% increase in H2 Adjusted EBITDA and £53m full year Adjusted EBITDA. Our pivot to the stock-lite, capital-lite, highly profitable marketplace is working. The cost base has been reset, the warehouse consolidation completed, the tech re-platform delivered, the stock base rightsized, most of the onerous costs exited and the brand management teams strengthened. This is significant progress, ahead of our plan, but there is still more to be delivered and we now focus on growth." The Group's cost out strategy delivered a fixed cost exit rate of £119m (£11m less than the £130 million guided in February 2026), reduced from £175 million for FY26, with the Group remaining on track to meet i...