THG reports ‘best quarter’ of trading in four years

THG reported group revenue up 6.3% in the third quarter, which followed changes to its operating model and investment in its proposition.

Nutrition sales climbed 10% on a continuing basis, while the beauty division was ahead 4.2%.

The sales performance was impacted by disposals and discontinued activities, such as the sale of THG’s luxury beauty portfolio and the nutrition division’s Claremont Ingredients business. The retailer left its full-year guidance unchanged.

Founder and chief executive Matt Moulding said: “I am pleased to report a solid performance, with a return to growth across both THG Beauty and THG Nutrition.

“In THG Beauty, our focus on commercial discipline and elevating the brand proposition has driven a return to revenue growth, supported by a strong advent launch.

“Within THG Nutrition, we remain on track with our focus on expanding Myprotein’s D2C market share, alongside accelerating our global offline presence through retail and brand partnerships. A number of exciting new partnerships are set to be announced soon, helping us to further build on this year’s positive momentum.

“Our progress is a direct result of the strategic initiatives and operational change we have implemented, and we are well positioned for the key trading period ahead.”