UK’s Debenhams Group said on Tuesday that positive trading momentum continued through June and July, ​supported by improving sales margins and lower customer ‌returns, as the online retailer’s turnaround strategy gained traction.

Here are some details:

  • The British retailer, which returned to gross ​merchandise value (GMV) growth in the first quarter, said ​GMV has continued to grow year-on-year as ⁠it shifts to a marketplace model to counter ​weak consumer demand and competition from low-cost fast-fashion rivals.
  • “Our ​platform model and diversified product assortment enables us to pivot quickly and capitalise on consumer demand. This has been ​especially so on Debenhams during the recent hot ​weather,” CEO Dan Finley said in a statement.
  • The retailer, which owns ‌brands ⁠including Karen Millen and Boohoo, said its Young Fashion division was turning around with PLT returning to growth and profitability.
  • The company expects net debt to ​be “materially lower” ​this year ⁠through improved trading and sales of remaining non-core property assets and also sees ​potential for Debenhams to become a “multi-billion-pound ​GMV business ⁠with £100 million-plus EBITDA” in the medium term.
  • Since Boohoo rebranded as Debenhams in 2025, the iconic brand’s turnaround ⁠strategy ​and efforts to offset supply-chain ​pressures have prompted two profit forecast upgrades in recent months.