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17 September 2026 boohoo group plc ( " Debenhams Group " , the " Group " or the " Company ) Trading update for the six months ended 31 August 2026 Growth Accelerated Through H1 with Record Marketplace Mix Adjusted EBITDA up 14 % , Reported EBITDA up 731 % H1 FY27 Trading Update Our turnaround continues at pace . Momentum accelerated through the first half ended 31 August 2026 ( " H1 " ) . GMV grew 1.8 % year on year , with growth of 0.5 % in the first quarter ( " Q1 ” ) accelerating to 2.9 % in the second quarter ( " Q2 " ) . Performance was most notable across the Debenhams brand , where GMV grew 14.1 % to represent c.41 % of Group GMV . Pretty Little Thing , boohoo and Karen Millen have all returned to growth . The return to growth has been supported by a record marketplace mix , materially improved profitability and significantly improved cash flows . Marketplace GMV reached 38.9 % of Group GMV , up from 32.7 % in the prior year . The Group's brand partner ecosystem expanded to c.30k brands or partners . All brands have completed the transition to the marketplace model , and the Group's ambition is for marketplace to represent well over 50 % of GMV . Gross margin expanded to 53.9 % ( H1 FY26 : 51.9 % ) , and the Group's returns rate declined by c.4 % in the period . Adjusted EBITDA increased by 13.9 % to £ 24m ( H1 FY26 : £ 21m ) , with Adjusted EBITDA margin of 5.9 % ( H1 FY26 : 5.0 % ) . Exceptional costs reduced by 83.5 % to £ 4m ( H1 FY26 : £ 24m ) . Reported EBITDA of £ 20m ( H1 FY26 : - £ 3m ) is a £ 23m improvement on the prior year . Capital expenditure fell by 33 % to £ 5m year on year ( H1 FY26 : £ 8m ) . Net debt reduced to £ 102m ( H1 FY26 : £ 111m ) , £ 9m lower year on year , and cash flows improved significantly , with the cash outflow after capital expenditure and interest materially reduced year on year . £ million GMV Pre Returns Marketplace Mix % Gross margin % Adjusted EBITDA % of revenue Exceptionals Reported EBITDA Capex Net debt H1 FY27 H1 FY26 Change 864 38.9 % 53.9 % 849 32.7 % 51.9 % 1.8 % 6.2pp 200bps 24 21 13.9 % 5.9 % 5.0 % 87 bps ( 4 ) ( 24 ) 83.5 % 20 ( 3 ) 730.6 % ( 5 ) ( 102 ) ( 111 ) 33.3 % 8.3 % Post Period End As announced on 10 September 2026 , the Group completed the £ 90m disposal of the Sheffield automation and lease assignment , a significant step in the transition to an asset - light model . Fulfilment of the Group's stocked product will transfer to a global 3PL provider . The total cost to fulfil going forward will be no more expensive than the cost incurred in Sheffield . The Group has completed the disposal of the Nasty Gal brand and its associated intellectual property for $ 16m , as announced on 15 September 2026 , further simplifying the Group's brand portfolio and supporting the focus on Debenhams and the Group's marketplace model . Together , these transactions materially reduce the Group's debt and net debt is expected to be negligible at year end . Outlook In respect of the full year , the Board expects to deliver GMV growth , and Adjusted EBITDA as previously guided and in line with consensus of no less than £ 59m representing double - digit growth