# Turnaround plan drives Debenhams back to growth

By Susannah Streeter — 2026-06-03

Susannah Streeter, chief investment strategist at Wealth Club, said: “On the retail front, there are signs that the battle plans drawn up to run around two struggling chains are working.

“While B&M’s results showing pre-tax profits falling 38 per cent to £284 million could not be dressed up as anything but disappointing, investors had been pre-warned.

“So, the focus was on the turnaround plan and there are signs that it’s already started gaining traction.

“UK like-for-like sales returned to marginal growth in the fourth quarter and management said its “Back to B&M Basics” programme is delivering early progress.

“There are hopes that B&M has reached the nadir of poor performance and that its product line revamps and tighter cost controls, alongside its locations in popular retail parks, will mean there will be more progress ahead.

“There were also cheers rather than boos for Boohoo, which now trades as Debenhams, as the company reported a return to growth in the first quarter.

“Its turnaround strategy has been rooted in rebuilding the group around the Debenhams marketplace platform to try and counter several bruising years of sliding sales and persistent losses across its legacy fast-fashion brands.

“The green shoots are becoming more visible, with stronger profitability and cash generation adding weight to the view that the brand makeover and operational transformation is on the right track.”

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