Boohoo Group has revealed that its adjusted earnings totalled £53m in its latest financial year, coming in ahead of the fashion retailer’s previous guidance.

The figure marks a year-on-year increase of 36%, driven by a 76% surge in the group’s H2 period.

Boohoo, releasing a trading update for the year to 28 February, said it remains confident of hitting “double-digit” adjusted earnings growth in the next financial year, ending 28 February 2027.

The fashion group revealed that it oversaw material improvements in its gross merchandise value (GMV) trend in the final quarter of 2026, having now delivered three consecutive quarters of GMV decline improvement, exiting February -5% below last year.

Boohoo also outlined that its cost reduction strategy had delivered a fixed cost exit rate of £119m, with the group also remaining on track to meet its target of £100m in FY27.

“Our multi-year turnaround strategy continues at pace,” said Boohoo CEO, Dan Finley. “We are pleased with the 76% increase in H2 adjusted earnings and £53m full-year adjusted earnings. Our pivot to the stock-lite, capital-lite, highly profitable marketplace is working.

“The cost base has been reset, the warehouse consolidation completed, the tech re-platform delivered, the stock base rightsized, most of the onerous costs exited and the brand management teams strengthened. This is significant progress, ahead of our plan, but there is still more to be delivered and we now focus on growth.”

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