Skip to main content
BoF Logo

The Business of Fashion

Agenda-setting intelligence, analysis and advice for the global fashion community.

THG Warns on Profit After Major Revenue Miss

THG Plc warned that profitability missed analysts’ estimates and forecast sales growth will decelerate this year.
THG warns on profit after major revenue miss. (Shutterstock)

Online retail platform THG warned on profit on Tuesday after its revenue growth missed its target, which it blamed on the termination of some loss-making OnDemand sales, disruption in deliveries in December and delays in new contracts.

The British group, which owns beauty and nutrition brands, said it expected to report adjusted core earnings of £70-80 million for 2022, compared with its forecast in October of between £100 million and £130 million.

It said its revenue grew 3.3 percent, or 4.1 percent excluding Russia, to £2.25 billion ($2.75 billion) in 2022, far short of its 10-15 percent target.

The company said it had started a strategic review of its trading activities outside of THGBeauty, THG Nutrition and THG Ingenuity, it’s online platform that serves third-party brands.

ADVERTISEMENT

By Paul Sandle; Editor: Kate Holton

Learn more:

THG Shares Dip After SoftBank Investment Option Is Ditched

THG said the option arrangement was terminated by mutual agreement, according to a statement.

In This Article
Topics

© 2024 The Business of Fashion. All rights reserved. For more information read our Terms & Conditions

More from Retail
Analysis and advice from the front lines of the retail transformation.
view more

Subscribe to the BoF Daily Digest

The essential daily round-up of fashion news, analysis, and breaking news alerts.

The Business of Fashion

Agenda-setting intelligence, analysis and advice for the global fashion community.
CONNECT WITH US ON
© 2024 The Business of Fashion. All rights reserved. For more information read our Terms & Conditions, Privacy Policy, Cookie Policy and Accessibility Statement.