Debenhams Posts First Profit in Five Years
British fashion retailer Debenhams reported a pretax profit of 28.3 million pounds for the period ending August, marking its first profit in five years. The company anticipates further cost reductions and near-zero debt by year-end as part of its ongoing turnaround strategy.
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BOOHOO GROUP PLC posted a pretax profit of £28.3 million ($37.89 million) for the six months ended August 31, marking its first profitability in five years. The fashion retailer delivered the turnaround across the United Kingdom as restructuring efforts took hold. The return to black compares with a loss of £17.9 million during the same period a year earlier.
