Boohoo owner Debenhams hails a return to profit for the first time in five years

Summary

Boohoo owner Debenhams hailed a return to profit for the first time in five years, the Evening Standard and The Independent reported on Friday 23 October. Debenhams Group has been taking steps to reduce its cost base by selling off parts of the business, according to both outlets. City A.M. reported that the fast fashion firm Boohoo, which owns Debenhams, Karen Millen and Pretty Little Thing, has set its sights on a £100m profit after emerging from years of consecutive losses, saying its turnaround plans are 'significantly ahead' of schedule after producing its first pre-tax profit since 2021.

Latest: Boohoo owner Debenhams hailed a return to profit for the first time in five years, the Evening Standard and The Independent reported, City A.M. reporting that Boohoo has set its sights on a £100m profit, its turnaround plans being 'significantly ahead' of schedule after its first pre-tax profit since 2021.

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