Gross Margin ExpansionA 220bp uplift to a 62.2% trading gross margin reflects sustainable improvements in pricing, product mix and promotional discipline. Durable margin expansion reduces reliance on volume to drive profit, supports future cash flow generation and provides room to reinvest in growth initiatives over coming quarters.
EBITDA And Operating Cash ImprovementAn 86% uplift in underlying EBITDA, paired with ~ $10m operating cash flow for the half and inventory down 21%, indicates strengthening core cash generation. This durable improvement enhances debt service capacity, flexibility to reinvest in the U.S. and supports covenant repair and balance sheet resilience.
Customer Base Quality & Digital PerformanceA sizable, high‑value customer base and strong NPS signal durable demand and brand affinity for plus‑size apparel. Improved digital traffic and targeted AI initiatives for design/allocation (SeeStone) indicate structural capability to lift lifetime value and reduce markdown reliance over several quarters.