DEBS

Boohoo Group PLC

Retail First-pass screen £275m

300/1000 Overall fit

AI beneficiary 35% 15

Operating leverage 25% 50

Valuation 25% 25

Downside protection 15% 40

First-pass take

Fashion e-commerce turnaround with zero AI exposure. Loss-making despite £50m cost cuts; newly refinanced £175m facility extends maturity to 2028. Debenhams brand growing 34% with proven marketplace model and improving unit economics. Negative: cyclical sector, depleted equity (£279.7m → £3.9m), negative FCF.

Flags

non-ailoss-makingequity-depletedturnaround-unprovencyclicalnegative-fcf