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boohoo Group PLC on Tuesday reported a widened loss for its continuing operations during its most recent financial year, as it continues to pursue a ‘multi-year turnaround’ for the company. The Manchester-based online retailer said its pretax loss for continuing operations in the year that ended February 28 was £263.9 million, widened from £164.4 million the year before. Revenue on continuing operations declined 12% to £790.3 million from £902.3 million, while administrative expenses increased 3.3% to £373.3 million from £361.3 million. Figures for continuing operations have excluded youth brand PrettyLittleThing, for which boohoo said it is ‘actively pursuing a disposal’ to ‘accelerate progress and maximise shareholder value’. Comparative figures for 2024 have also been restated to reflect continuing operations. Including PLT, revenue for the year fell 17% to £1.22 billion from £1.46 billion. Gross merchandise value before returns slipped 10% to £2.32 billion, and was down 1.6% to £1.61 billion for continuing operations alone. Adjusted earnings before interest, tax, depreciation and amortisation including PLT sank 33% to £39.6 million, but excluding PLT rose 3.0% to £41.6 million. ‘The business has been through a very challenging period which is reflected in these results. I want to assure shareholders that the business is taking the necessary actions, quickly and decisively, to address the challenges that we face. No stone will be left unturned,’ said Chief Executive Officer Dan Finley, who stepped into the role at the beginning of November. boohoo declared no dividend, unchanged from the year before. Finley continued: ‘This will be a multi-year turnaround as was the case with the Debenhams brand. As part of our ongoing business review, we are exploring a potential sale of PLT. We are also assessing long-term options for our US and Burnley distribution sites to enhance efficiency and ensure alignment with our stock-lite strategy.’ ‘I am pleased that all our brands are now trading profitably in terms of adjusted Ebitda. I strongly believe in the medium-term opportunity for our group. We continue forward as Debenhams Group under new leadership, a new strategy, and a new direction.’ boohoo now trades under the Debenhams brand. An official name change for the holding company was blocked by shareholders in March. Shares in boohoo were up 2.7% at 14.98 pence in London on Tuesday afternoon. The stock remains down 43% over the past year. Copyright 2025 Alliance News Ltd. All Rights Reserved.
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