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.
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.
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.
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.