Investors

Bringing together key financial information, operational highlights and strategic updates.

Our year in numbers

FY25 performance

£2,456m

Gross Merchandise Value (GMV)

(FY24: £2,818m)

£2,465m

Adjusted revenue

(FY24: £2,896m)

47.1%

Adjusted gross margin

(FY24: 43.4%)

£132m

Adjusted EBITDA

(FY24: £80m)

£14m

Free cash flow

(FY24: £38m)

£(185)m

Net debt (excluding leases)

(FY24: £(297)m)

22 January 2026 Result of AGM

Bringing the most relevant fashion product via an inspirational shopping experience with a sustainable and efficient operating model.