Aggressive actions, including £50m of annualised headcount savings, have enabled Debenhams Group to report an adjusted EBITDA of £41.6m for the year ended 28 February 2025. It’s a goal that group CEO Dan Finley said this week “seemed improbable” at the time of his appointment last November.
“We quickly came up with a plan, confirmed our position in the market and executed it,” he said. All brands are now trading profitably in terms of adjusted EBITDA, he explained.
The Debenhams brand has performed particularly well, according to Finley. The marketplace model sits at the heart of the company’s revised strategy with a mission to become the shopping destination of choice. The marketplace doubled its contribution vs the prior year and now represents nearly 30% of the group’s total GMV. 11,000 new partners were welcomed to the platform in 2025, now totalling more than 15,000.
Marketplace expansion across brands
Boohoo’s marketplace also launched this year, with more than 1,000 brands now live. Similar marketplaces for PLT and boohooMAN have also launched this year with the boohooMAN marketplace debuting in July. Karen Millen has a broader marketplace model, as well as a pre-loved luxury product offering. International expansion for Karen Millen is also a strategic priority.
The company says thousands of customers have signed up to Debenhams Pay+, a credit payment option launched in March. Delivered by Debenhams, which allows partners to outsource delivery to the retail group, is also growing, as is its retail media proposition Debenhams Ads.
Finley said quick and decisive actions will continue to follow as the company faces future challenges. “No stone will be left unturned,” he said.
As part of its work to reposition and right size its youth brands Finley said the company is exploring a potential sale of PLT. It is also assessing the long-term options for its US and Burnley distribution sites.
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