The Hut Group news and archive

THG reports record FY sales, but lowers profit outlook

British retail giant THG has lowered its profit guidance despite reporting record annual sales. Revenue came in at 2.25 million pounds in the year to December 31, up 3.3 percent from a year earlier and up 39.6 percent compared to two years ago. But that was still below target. The company said the results were impacted by lengthier onboarding of...

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Softbank sells entire THG stake following end of investment deal

Japanese investment giant Softbank has sold its entire stake in British retail group THG at a loss of 450 million pounds after the two announced the end of an investment deal in July. THG said Monday that Softbank has agreed to sell 67.8 million shares to Qatar’s sovereign wealth fund, and 12.8 million shares to THG chief executive and founder...

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THG issues profit warning despite record H1 revenue

Shares in THG plunged Thursday after the British e-commerce giant issued a profit warning. THG said it expects full-year adjusted EBITDA to be in the range of 100 million pounds and 130 million pounds compared to a previous estimate of EBITDA being flat on the prior year. Meanwhile, it expects full-year revenue growth of between 10 percent and...

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THG and Softbank abandon investment deal

British e-commerce giant THG has ended its investment deal with SB Management, a subsidiary of Japanese investment giant SoftBank, in light of “global macroeconomic conditions”. In May of last year, the two company’s struck a deal which saw SB Management invest 730 million dollars in THG. The deal also included the option for SB Management to...

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THG rejects all ‘unacceptable’ buyout bids, investment firms exit takeover race

The Hut Group (THG) said Thursday it has rejected all recent takeover bids for the company as they “significantly undervalued” the business. In May, THG revealed it had turned down a 2 billion pound joint takeover bid from investment companies Belerion Capital Group Limited and King Street Capital Management. On the same day, the group announced...

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THG rejects takeover offer, property mogul Nick Candy also mulling bid

British e-commerce giant The Hut Group (THG) has turned down a 2 billion pound takeover offer from two investment companies after saying it undervalued the business. The group said late Thursday that it received an unsolicited takeover bid from Belerion Capital Group Limited and King Street Capital Management of 170 pence per share. It rejected...

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THG rejects various takeover offers, warns of broadly flat FY22 profit

The Hut Group said Thursday it has turned down a number of buyout approaches as the company reported full-year profit and revenue growth. “I can confirm that the board has received indicative proposals from numerous parties in recent weeks,” founder and CEO Matthew Moulding told investors. But he said the board concluded that “each and every...

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THG taps former ITV boss as new chair

The Hut Group (THG) has named former ITV CEO Charles Allen as its new chair to “drive growth” at the company which has seen its share price stumble in recent months. Allen was at the helm of ITV from its formation in 2004 until 2007, and has also previously held the same position at Granada Group, and been chief advisor to the British Home...

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The Hut Group non-exec director steps down

E-commerce retailer The Hut Group (THG) has announced its non-executive director, Tiffany Hall, will be stepping down from its board, effective immediately. Hall, who has been with the technology platform for 12 months, was said to be leaving for “family reasons”. In a statement, THG CEO Matthew Moulding thanked Hall for her contribution, most...

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The Hut Group shares climb on buyout speculation

Shares in British e-commerce giant The Hut Group surged on Friday on speculation it could be sold. The group is reportedly being circled by private equity firms potentially looking to buy the business, according to a Betaville blog post. Advent International and Leonard Green are two firms understood to be exploring a buyout. Shares in the group...

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The Hut Group reports record annual sales, but warns on profit margins

The Hut Group (THG) has reported a strong increase in revenue in its full-year trading update but said its profit margins are expected to be lower than analysts’ previous estimates. In the 12 months to December 31, the British e-tail giant reported record revenue of 2.2 billion pounds, up 37.9 percent compared to last year and up 95 percent...

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THG reports soaring Q3 revenue

The Hut Group (THG) has reported surging revenue in the third quarter of the year. In the three months to September 30, the group’s revenue came in at 507.8 million pounds, a 38 percent increase compared to a year ago and a 93.8 percent increase compared to two years ago, on a constant currency basis. The group’s Beauty division continues to be...