Debenhams swings to full year profit
Debenhams has reported a pre-tax profit of £4.5 million for the year to 29 February compared to a loss of £723,00 in the prior 12-month period.
Revenue declined to £39.7 million from a previous £87.1 million, although gross merchandise value climbed by 65% to £359.69 million.
Meanwhile, EBITDA doubled to £10.4 million.
These results are for DBZ Marketplace which trades as Debenhams. Brands with a presence on the marketplace include the likes of Prada, Estee Lauder, Puma, Whistles, Lacoste and Lego.
Debenhams was acquired out of administration by Boohoo in 2021.
Dan Finley, chief executive of Boohoo, said: “Debenhams is an iconic British heritage brand. We bought it out of administration and are making great progress transforming it into Britain’s online department store.
“The marketplace model is stock-light, capital-light and highly profitable, as these results show. There is lots of opportunity ahead and we are focused on realising that for the benefit of all shareholders. We have previously announced that the current year started strongly for Debenhams.”
Debenhams Brands Online is a separate business that was established in May 2023 and includes Debenhams-owned brands such as Oasis, Dorothy Perkins and Wallis. This had sales of £138.6 million and a pre-tax profit of £0.95 million in the period to February.
