Sparks commentary - Global Fashion Group

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Sparks - Global Fashion Group

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Global Fashion Group (DUS: GFG) – positive adjusted EBITDA over last 12 months
Published by Russell Pointon

For Q325, a seasonally small quarter, Global Fashion Group has reported a constant currency net merchandise value (NMV)  of -0.4%, revenue of  -1.5% and improving profitability, with the important milestone of being adjusted EBITA positive over the last 12 months as a result of an improving gross margin, mainly due to changes in business mix, and as cost savings come through.

From a KPI perspective, the trends look encouraging, with a sequential quarter-on-quarter improvement in the decline in number of orders, active customers and the year-on-year change in order frequency has moved positive for the first time since Q123.

Profit guidance for FY25 is unchanged as the constant currency NMV guidance for the year has narrowed to -2% to 2% from -5% to +5%.

 

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