The Boohoo Group (LSE: DEBS) share price rose 7% on Wednesday morning (January 28) after the company published a progress update for the year to February 28. The online fashion pioneer – now known as Debenhams Group – said that “trading above expectations.“

We still have a month left until the end of the year. However, we should count on adjusted EBITDA of £50 million. This is a significant improvement on the £45 million forecast on offer when the first half results were announced.

Boohoo was considering selling its PrettyLittleThing (PLT) business. But that’s not an option now. The board is “particularly pleased with the pace and scale of PLT’s transformation and the resulting significant improvement in profitability“

Debt was an issue as Boohoo worked on turnaround plans. Net worth, however, fell by 22% to £111m at the end of the first half of August.

This time the company claims that “is exploring significant licensing opportunities and continues to sell non-core assets, which will significantly reduce net debt over the next 12 months.“

This would represent significant progress and reduce one of the key risks investors currently face. We should know further details in March.

Return to profits soon?

This latest development may bring one critical advance. Analyst forecasts continue to show a bottom-line loss per share until 2028. However, the disputed 2028 loss of just 0.3p is only slightly below break-even.

Currently, I see a good chance for positive earnings per share in 2028. Or maybe even earlier at the current pace of development?

Most importantly, it increasingly looks like one of the key driving forces is turning positive. And this is the investor sentiment. From a 52-week low of 10.3p in November 2025, the Boohoo share price is now up 146% – at over 25p at the time of writing.

Strategic change

I see this as evidence of Boohoo’s repositioning. It is moving from focusing on own-brand labels to providing a platform for goods from a wide range of partners.

In the first half of the year, the company reported: “Our market model is at the heart of our future business. It is a stock-lite, capital-lite, high-margin, cash-generating company” And he pointed out: “There are currently approximately 20,000 in our ecosystem. partners (compared to approximately 10,000 a year ago) and we see significant potential for further development of partners“

That’s what I’ll be looking for as we look at full-year results. I will also check for possible forecast updates.

Time to buy again?

I’m still a long way from breaking even with my holding company, Boohoo Group. I still see concerns about the likelihood of sustained revenue growth. But I stopped thinking that my shares were almost worthless. However, I won’t consider purchasing more until I see further progress.