THE RETAIL BULLETIN - The home of retail news
Click here
Home Page
News Categories
Commentary
CX
Department Stores
Desert Island Stores
Electricals and Tech
Entertainment
Fashion
Food and Drink
General Merchandise
Grocery
Health and Beauty
Home and DIY
Interviews
People Matter
Retail Business Strategy
Property
Retail Solutions
Electricals & Technology
Sports and Leisure
TRB conference review
Christmas Ads
Shopping Centres, High Streets & Retail Parks
Uncategorized
Retail Events
People in Retail Awards 2024
Retail Ecom North
Retail HR North 2025
Retail Omnichannel Futures 2025
Retail HR Central 2025
The Future of The High Street 2025
Retail Ecom Central
Upcoming Retail Events
Past Retail Events
Retail Insights
Retail Solutions
Advertise
About
Contact
Subscribe for free
Terms and Policies
Privacy Policy
The Hut Group raises full year revenue guidance

The Hut Group has raised its full year revenue guidance after its third quarter sales climbed by 38.6% to £378.1 million.  In the three months to… View Article

HEALTH AND BEAUTY NEWS

The Hut Group raises full year revenue guidance

The Hut Group has raised its full year revenue guidance after its third quarter sales climbed by 38.6% to £378.1 million. 

In the three months to 30 September, the health and beauty group’s online revenue growth was also strong with direct-to-consumer sales increasing by 51.3% to £320.2 million.

In its first market update since its IPO in September, THG said it benefited from growth in new customer acquisition as well as an improvement in repeat purchase rates in the period.

The group’s Ingenuity technology division also performed well with revenue climbing by 171.4% to £5.1 million. 

Matthew Moulding, group chief executive and executive chairman, said: “I am pleased to report a strong period of trading in our first quarterly update as a public company, including an upgrade to revenue growth guidance for 2020. Our strong organic revenue growth across all divisions, numerous THG Ingenuity partnership deals, and the recent acquisition of luxury skincare brand Perricone MD, demonstrates our strategic direction and progress in the period.  

“Our decision to list on the London Stock Exchange provides us with a strong platform to raise the profile of both Ingenuity and our Brands, and further supports their strong organic growth. Our acquisition strategy remains unchanged, with a focus to complement organic growth with brand IP and Ingenuity infrastructure additions.”

The group has now raised its full year revenue guidance from  £1.43 billion to between £1.48 billion and £1.52 billion.

Looking ahead to the peak Christmas trading period, THG said its fourth quarter typically accounts for around 30% to 32% of group revenue each year, with Black Friday playing a key role.

Moulding added: “THG has a very strong balance sheet, enabling us to further invest across each of our growth pillars.  THG’s core competencies leave it exceptionally well placed and we are witnessing increased opportunities, in scale and volume, for selective acquisitions across all our divisions and geographies.”

Subscribe For Retail News