boohoo group (DEBS) Trading Update summary

Debt refinancing and financial position

• Secured a new £222m debt facility, including a £125m revolving credit line to October 2026 and a £97m term loan due August 2025, reducing overall interest costs.

• Refinancing supported by existing banking partners, with Ashurst and Rothschild & Co as advisers.

Strategic review and shareholder value

• Board is reviewing options for each division to unlock and maximise shareholder value, citing the group as fundamentally undervalued.

• Five core brands serve a diverse global customer base, with Debenhams repositioned as a leading online department store and Karen Millen as a digital-first premium brand.

• Marketplace strategy successfully implemented at Debenhams, with plans to extend across all brands.

Trading update and outlook

• H1 25 GMV pre-returns fell 7% to £1,177m; revenue declined 15% to £620m; adjusted EBITDA margin dropped to 3.4%.

• UK GMV down 2%, US down 18%, and Rest of World down 21% year-on-year.

• H2 25 expected to deliver higher GMV and stronger adjusted EBITDA despite ongoing brand investment.

• Debenhams marketplace saw significant growth, adding 5,000 brands in the period.