THG has reported its results for the third quarter of the current financial year. The UK owner of Look Fantastic saw revenue dip 2.1 percent on a constant currency basis for the three months to September 30, 2023.
However, according to a report published by Reuters, the month of September saw improved sales with revenue up 3.2 percent in constant currency. Despite this more positive end to the quarter, the e-commerce operator said it continues to expect revenue to drop in the range of 0 to 5 percent for the full year.
Beauty sales dropped 4.4 percent to £272 million while nutrition fell 4.6 percent to £156.2 million. THG’s Ingenuity division saw sales tumble 8.8 percent.
THG has struggled since it was taken public in 2020 after concerns emerged over the group’s governance. Activist investors have called for a spin off of its Myprotein division, The Times reports. However, this latest set of results appears to have calmed the market somewhat with shares rising 4.4 percent.
