Connect with us
Finance Digest is a leading online platform for finance and business news, providing insights on banking, finance, technology, investing,trading, insurance, fintech, and more. The platform covers a diverse range of topics, including banking, insurance, investment, wealth management, fintech, and regulatory issues. The website publishes news, press releases, opinion and advertorials on various financial organizations, products and services which are commissioned from various Companies, Organizations, PR agencies, Bloggers etc. These commissioned articles are commercial in nature. This is not to be considered as financial advice and should be considered only for information purposes. It does not reflect the views or opinion of our website and is not to be considered an endorsement or a recommendation. We cannot guarantee the accuracy or applicability of any information provided with respect to your individual or personal circumstances. Please seek Professional advice from a qualified professional before making any financial decisions. We link to various third-party websites, affiliate sales networks, and to our advertising partners websites. When you view or click on certain links available on our articles, our partners may compensate us for displaying the content to you or make a purchase or fill a form. This will not incur any additional charges to you. To make things simpler for you to identity or distinguish advertised or sponsored articles or links, you may consider all articles or links hosted on our site as a commercial article placement. We will not be responsible for any loss you may suffer as a result of any omission or inaccuracy on the website.


UK’s THG returns to revenue growth in Q4 on demand for beauty products

(Reuters) – British e-commerce firm THG said on Wednesday its revenue continued to improve in 2024 after returning to growth in the last quarter of 2023, thanks to demand for beauty products.


After a bumper $7 billion London initial public offering in 2020, THG has issued multiple profit warnings that have weighed heavily on its shares and led to several takeover approaches, all of which have been rejected.

Inflationary and cost-of-living pressures over the last year had also led to revenue declines at the firm.


THG has undertaken restructuring as part of a strategic review of its loss-making operations last year, leading it to sell its entertainment products division THG OnDemand and discontinue some small brands within its beauty and nutrition divisions.


THG, which owns online brands Lookfantastic and Myprotein, reported a smaller operating loss of 185.4 million pounds ($235 million) for the year ended Dec. 31, compared to 495.6 million pounds a year earlier.

Total revenue for the year fell 8.7% to 2.05 billion pounds.

Q4 revenue grew 1.1%, it said, without providing the exact figure.


“Our fulfilment network is becoming increasingly optimised through a combination of robotics automation, AI and the onboarding of new Ingenuity clients utilising existing capacity,” said CEO and founder Matthew Moulding.

“The return to Group revenue growth in Q4 was especially pleasing, and this momentum has continued into 2024,” Moulding added.


THG plans to issue a Q1 2024 trading update by the end of April.

($1 = 0.7888 pounds)


(Reporting by Yadarisa Shabong in Bengaluru; Editing by Varun H K)


Continue Reading

Why pay for news and opinions when you can get them for free?

       Subscribe for free now!

By submitting this form, you are consenting to receive marketing emails from: . You can revoke your consent to receive emails at any time by using the SafeUnsubscribe® link, found at the bottom of every email. Emails are serviced by Constant Contact

Recent Posts