boohoo group Plc (GB:BOO) has released an update.
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.
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