The Business of Fashion
Agenda-setting intelligence, analysis and advice for the global fashion community.
Agenda-setting intelligence, analysis and advice for the global fashion community.
LONDON, United Kingdom — British e-commerce company The Hut Group upgraded its full-year revenue guidance on Monday in its first trading update since listing last month, boosting its shares by 10 percent.
The company, which helps sell retail brands including Lookfantastic and skincare group ESPA, said that following a strong third-quarter performance and continued momentum into its final quarter, it now expected full-year revenue to rise by up to a third to about £1.48 to £1.52 billion ($1.93 to $1.98 billion).
At the time of its initial public offering (IPO), it had guided to revenue of about £1.43 billion.
The company said revenue in its third quarter increased 38.6 percent year on year to £378.1 million, up from the 35.8 percent growth rate seen in the first half.
Shares in the company, which were sold at 500 pence in the IPO, rose to a new high of 780 pence in early dealing. They were up 10.5 percent at 749 pence at 10.07am GMT.
By Paul Sandle; editor: Mark Potter.
Malls across the US have been ‘flash robbed’ by groups of about 20 to 30 suspects stealing retail merchandise.
BoF Careers provides essential sector insights for fashion professionals in retail this month, to help you decode fashion’s retail landscape.
The sportswear giant’s lifestyle and fashion division is set to release a new campaign and “visual identity” to emphasise the cultural cachet of its Samba, Gazelle and Superstar sneaker franchises.
European retailers have been unlikely stock market stars this year, but a long spell of high borrowing costs and inflation has started to bite, so wary investors will be looking for reassurances from the likes of H&M and Zara-owner Inditex when they issue business updates this week.