THG defies retail gloom with best quarter in five years
THG shares rocketed on Tuesday as the firm shrugged off wider gloom in the retail market after delivering its best quarterly performance in five years.
The Manchester-based beauty and nutrition e-commerce firm posted revenue growth of 7 per cent for the first quarter of 2026, adding that growth was only “modestly impacted” by disruption in the Middle East.
The London-listed business posted revenue of £393.1m, led by 8.1 per cent growth in its nutrition division to £159.8m.
“It is energising for everyone at THG to see such a strong start to 2026,” said chief executive Matt Moulding.
“While the geopolitical backdrop remains uncertain, we enter Q2 with confidence after a better-than-expected Q1, giving us a stronger base against any unforeseen risks later in the year.”
THG shares rocketed 9.5 per cent to 42.2p in early trade.
“Positive underlying revenue momentum was maintained in both divisions,” said analysts at Panmure Liberum.
“Three consecutive quarters of mid-to-high single-digit organic growth are encouraging, but the business still needs to demonstrate consistent translation into higher profits and cash generation, particularly given raw material cost volatility.”
THG said its guidance would continue to meet market expectations despite disruption caused by the outbreak of war in Iran.