Overview

• The company confirmed it is exploring a potential sale of PrettyLittleThing as part of an ongoing business review.
• Management is assessing long-term options for distribution at Burnley and in the United States to improve efficiency, with potential Burnley job losses reported at about 1,251 and other estimates noting the site employs more than 3,000 people.
• Annual results show a widened pre-tax loss of roughly £264 million for the year to 28 February following significant one-off charges alongside lower sales.
• CEO Dan Finley’s turnaround program has delivered about £50 million in annualised savings, a workforce reduction of around 30% and halved stock levels supported by warehouse automation.
• Sales declines are concentrated in youth labels such as Boohoo, PrettyLittleThing and BoohooMan, while the Debenhams marketplace increased sales by about a third to £654 million.