boohoo group Plc (GB:BOO) has released an update.
Don't Miss our Black Friday Offers:
- Unlock your investing potential with TipRanks Premium - Now At 40% OFF!
- Make smarter investments with weekly expert stock picks from the Smart Investor Newsletter
Boohoo Group Plc reports a challenging first half of FY25 with a 7.3% decline in gross merchandise value (GMV) pre-returns and a 15% drop in revenue due to difficult market conditions. Despite these hurdles, the company saw significant growth in the Debenhams Marketplace, achieving a 170% increase in GMV pre-returns, and took decisive steps like closing its US distribution center to improve profitability. With new leadership under CEO Dan Finley and a focus on cost reduction, Boohoo is poised for future growth and plans to host a capital markets day in Q1 2025.
For further insights into GB:BOO stock, check out TipRanks’ Stock Analysis page.