UK's Debenhams Returns to Profit after Five Years, Expects Further Cost Cuts
British fashion retailer Debenhams , also known as boohoo, reported a profit for the first time in five years on Friday and expects further cost cuts as a turnaround plan gathers pace, said Reuters. Here are some more details: -The company reported pretax profit of £28.3 million ($37.89 million) for the six months ended August 31, compared to a loss of £17.9 million a year ago, its first profit before tax since August 2021.
