In key news on UK stocks, THG PLC (GB:THG) shares soared by 6%, as of writing, after the company reported higher revenue growth in its Q1 trading update, driven by the robust performance of its beauty segment. The company’s overall revenue grew by 4.5% year-over-year on a constant currency basis to £445.4 million. THG also highlighted the continuous growth momentum achieved in five consecutive quarters.
THG is an online retail company that sells its own and third-party brands under the beauty and nutrition categories.
THG’s Growth Fueled by Beauty Segment
THG’s beauty segment delivered exceptional performance in Q1 2024, growing at 11.1% on a constant currency basis compared to a decline of 12.4% in Q1 2023. The total revenue for this segment reached £267.6 million, driven by improved geographic focus in 2023. Also, the company targeted more lucrative customer segments and regions.
The company’s app participation skyrocketed to 24% of online revenue, marking a significant jump from 15% in Q1 2023. This underscores its strong customer connections, leading to…
