THE WHAT? THG shares have been boosted by an announcement that the British e-commerce operator expected to meet its previously published full-year guidance as demand for beauty products proves resilient in the face of rising inflation, according to a report published by Reuters.
THE DETAILS The owner of Lookfantastic and Glossybox saw revenue climb 2.1 percent in the three months to September 30, 2022, with the beauty division reporting sales growth of 4.9 percent for Q3 2022.
THE WHY? CEO Matthew Moulding told Reuters that the group had seen a positive start to Q4, “As cost of living pressures rise, customers are continuing to prioritise beauty, health and wellness categories.”
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