By Maitane Sardon
THG said it is on track to meet its guidance this year due to the strong growth of its beauty and nutrition businesses.
The U.K. e-commerce company, which in January completed the spinoff of its logistics unit, said it still sees mid-single revenue growth for the year, due to strong demand for beauty products in the U.S. and U.K. markets.
The London-listed company said revenue for 2024--before the spinoff--rose 1.1% on year to 1.88 billion pounds ($2.53 billion). Meanwhile, like-for-like group revenue for the first quarter of the current year fell 3% to 371.4 million pounds, THG said.
"In its home U.K. and U.S. markets, Beauty retail is trading resiliently, with a strong selection of new brand launches planned throughout the year. It's also been especially pleasing to see Nutrition momentum improving throughout the quarter with February and March back in growth," Chief Executive Matthew Moulding said.
Write to Maitane Sardon at maitane.sardon@wsj.com
(END) Dow Jones Newswires
April 29, 2025 03:31 ET (07:31 GMT)
Copyright (c) 2025 Dow Jones & Company, Inc.
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