Latest news with #THGIngenuity
Fashion Network
29-04-2025
- Business
- Fashion Network
THG battles full-year and Q1 headwinds but is upbeat for the future
THG's full-year results and Q1 trading update came with plenty of negative numbers but the company was upbeat overall about 'a transformative year, marked by further strategic progress and operational resilience and balance sheet deleveraging'. The firm's shares fell 3% Tuesday morning after it said FY24 revenue pre-demerger (its Ingenuity ops were spun out as a separate company last year) rose 1.1% to £1.88 billion and adjusted EBITDA was in line with guidance and consensus. Within that, THG Beauty rose 3.3% at actual exchange rates and 4.6% at constant currency (CC) to £1.108 billion while Nutrition fell 11.9% actual and 8.7% CC to £579.8 million. Post-demerger revenue fell 2.5% actual and 0.4% CC for the company as a whole. THG Ingenuity's revenue was up 16% actual during the year and 16.4% CC to £191.9 million. Post-demerger adjusted EBITDA for THG fell 17.2% to £92.1 million. And in Q1 of this year, group continuing revenue fell 6.1% at constant currency to £371.4 million with like-for-like revenue down 3%. The first quarter saw THG Beauty revenue falling 10% actual or 9.8% CC to £223.6 million as comparisons with last year proved tough, while the Nutrition ops returned to CC growth, albeit at just 0.1% on that basis and down 2% actual. Sales were £147.8 million. CEO Matthew Moulding said: '2024 was a big year of change and evolution for THG, the highlight of which was the demerger of the group's technology division, THG Ingenuity at the end of the year 'We are now fully focused on THG Beauty and THG Nutrition, and I'm proud of the progress each business has made. THG has become a much leaner, fitter group that has shown strong resilience in the face of record whey commodity pricing that placed temporary pressure on Nutrition margins. A strong performance across our Beauty business, delivering ahead of its medium-term adjusted EBITDA margin target, helped the group to deliver a pre-demerger adjusted EBITDA margin ahead of 2023 despite the transitory headwinds in Nutrition. 'In the first quarter of this year, THG Beauty was up against a comparative period including an early Easter which is a key trading event, and an extra day's trading. However, in its home UK and US markets, Beauty retail is trading resiliently, with a strong selection of new brand launches planned throughout the year.'
Fashion Network
29-04-2025
- Business
- Fashion Network
THG battles full-year and Q1 headwinds but is upbeat for the future
THG's full-year results and Q1 trading update came with plenty of negative numbers but the company was upbeat overall about 'a transformative year, marked by further strategic progress and operational resilience and balance sheet deleveraging'. The firm's shares fell 3% Tuesday morning after it said FY24 revenue pre-demerger (its Ingenuity ops were spun out as a separate company last year) rose 1.1% to £1.88 billion and adjusted EBITDA was in line with guidance and consensus. Within that, THG Beauty rose 3.3% at actual exchange rates and 4.6% at constant currency (CC) to £1.108 billion while Nutrition fell 11.9% actual and 8.7% CC to £579.8 million. Post-demerger revenue fell 2.5% actual and 0.4% CC for the company as a whole. THG Ingenuity's revenue was up 16% actual during the year and 16.4% CC to £191.9 million. Post-demerger adjusted EBITDA for THG fell 17.2% to £92.1 million. And in Q1 of this year, group continuing revenue fell 6.1% at constant currency to £371.4 million with like-for-like revenue down 3%. The first quarter saw THG Beauty revenue falling 10% actual or 9.8% CC to £223.6 million as comparisons with last year proved tough, while the Nutrition ops returned to CC growth, albeit at just 0.1% on that basis and down 2% actual. Sales were £147.8 million. CEO Matthew Moulding said: '2024 was a big year of change and evolution for THG, the highlight of which was the demerger of the group's technology division, THG Ingenuity at the end of the year 'We are now fully focused on THG Beauty and THG Nutrition, and I'm proud of the progress each business has made. THG has become a much leaner, fitter group that has shown strong resilience in the face of record whey commodity pricing that placed temporary pressure on Nutrition margins. A strong performance across our Beauty business, delivering ahead of its medium-term adjusted EBITDA margin target, helped the group to deliver a pre-demerger adjusted EBITDA margin ahead of 2023 despite the transitory headwinds in Nutrition. 'In the first quarter of this year, THG Beauty was up against a comparative period including an early Easter which is a key trading event, and an extra day's trading. However, in its home UK and US markets, Beauty retail is trading resiliently, with a strong selection of new brand launches planned throughout the year.'
Fashion Network
24-04-2025
- Business
- Fashion Network
THG Fulfil says late cut-off for next-day delivery drives higher sales
THG Ingenuity had some interesting news this week about the value of next-day delivery and free delivery for e-tail orders. The e-commerce solutions provider (which is now a privately held company after THG separated it out last year) operates its THG Fulfil arm and said that following an analysis of around 40 million customer orders, its next-day delivery offer (which has a later-than-most cut-off time) 'is driving customer acquisition and higher value orders for brands and retailers' in the beauty and wellness & nutrition sectors. The company allows 'next-day' delivery (NDD) for orders placed up until 1am (effectively making it same-day) and it said 23% of NDD orders now come from first-time customers after midnight. The analysis also showed that between 10pm-11pm, a fifth (20%) of wellness & nutrition NDD orders come from first-time customers, with this rising to nearly a quarter (23%) between 12am-1am. For beauty consumers, where urgency tends to be lower, 8% of post-10pm orders come from new customers. THG itself largely uses THG Fulfil for its Beauty division fulfilment. The company said the data shows 'THG Fulfil has captured the late-night shopper demand with its market-leading 1am NDD offering'. 'The trend is clear. Late-night fulfilment drives commercial success: our customers are receiving new orders while their competitors sleep,' said Tom Killeen THG Ingenuity COO. THG Fulfil's data analysis shows that 82% of all NDD orders are placed after 2pm, and more than a quarter (27%) are placed after 10pm (up 7% versus 2024), 'offering a clear incentive for both customers and retailers to extend NDD order periods as late as possible'. The analysis also reveals that 'free delivery has generated an 11% uplift in subsequent order value, delivering an impressive 10x return on investment'. Killeen added: 'We've seen first-hand how fulfilment can make or break customer experience and brand reputation in e-commerce. We've always believed fulfilment is a growth driver, impacting customer retention and acquisition – our data now confirms that delivering on the demand for immediacy has a direct impact on new customer acquisition and attracting high-value shoppers willing to pay for premium, rapid delivery via multiple options.'
Fashion Network
24-04-2025
- Business
- Fashion Network
THG Fulfil says late cut-off for next-day delivery drives higher sales
THG Ingenuity had some interesting news this week about the value of next-day delivery and free delivery for e-tail orders. The e-commerce solutions provider (which is now a privately held company after THG separated it out last year) operates its THG Fulfil arm and said that following an analysis of around 40 million customer orders, its next-day delivery offer (which has a later-than-most cut-off time) 'is driving customer acquisition and higher value orders for brands and retailers' in the beauty and wellness & nutrition sectors. The company allows 'next-day' delivery (NDD) for orders placed up until 1am (effectively making it same-day) and it said 23% of NDD orders now come from first-time customers after midnight. The analysis also showed that between 10pm-11pm, a fifth (20%) of wellness & nutrition NDD orders come from first-time customers, with this rising to nearly a quarter (23%) between 12am-1am. For beauty consumers, where urgency tends to be lower, 8% of post-10pm orders come from new customers. THG itself largely uses THG Fulfil for its Beauty division fulfilment. The company said the data shows 'THG Fulfil has captured the late-night shopper demand with its market-leading 1am NDD offering'. 'The trend is clear. Late-night fulfilment drives commercial success: our customers are receiving new orders while their competitors sleep,' said Tom Killeen THG Ingenuity COO. THG Fulfil's data analysis shows that 82% of all NDD orders are placed after 2pm, and more than a quarter (27%) are placed after 10pm (up 7% versus 2024), 'offering a clear incentive for both customers and retailers to extend NDD order periods as late as possible'. The analysis also reveals that 'free delivery has generated an 11% uplift in subsequent order value, delivering an impressive 10x return on investment'. Killeen added: 'We've seen first-hand how fulfilment can make or break customer experience and brand reputation in e-commerce. We've always believed fulfilment is a growth driver, impacting customer retention and acquisition – our data now confirms that delivering on the demand for immediacy has a direct impact on new customer acquisition and attracting high-value shoppers willing to pay for premium, rapid delivery via multiple options.'
Fashion Network
24-04-2025
- Business
- Fashion Network
THG Fulfil says late cut-off for next-day delivery drives higher sales
THG Ingenuity had some interesting news this week about the value of next-day delivery and free delivery for e-tail orders. The e-commerce solutions provider (which is now a privately held company after THG separated it out last year) operates its THG Fulfil arm and said that following an analysis of around 40 million customer orders, its next-day delivery offer (which has a later-than-most cut-off time) 'is driving customer acquisition and higher value orders for brands and retailers' in the beauty and wellness & nutrition sectors. The company allows 'next-day' delivery (NDD) for orders placed up until 1am (effectively making it same-day) and it said 23% of NDD orders now come from first-time customers after midnight. The analysis also showed that between 10pm-11pm, a fifth (20%) of wellness & nutrition NDD orders come from first-time customers, with this rising to nearly a quarter (23%) between 12am-1am. For beauty consumers, where urgency tends to be lower, 8% of post-10pm orders come from new customers. THG itself largely uses THG Fulfil for its Beauty division fulfilment. The company said the data shows 'THG Fulfil has captured the late-night shopper demand with its market-leading 1am NDD offering'. 'The trend is clear. Late-night fulfilment drives commercial success: our customers are receiving new orders while their competitors sleep,' said Tom Killeen THG Ingenuity COO. THG Fulfil's data analysis shows that 82% of all NDD orders are placed after 2pm, and more than a quarter (27%) are placed after 10pm (up 7% versus 2024), 'offering a clear incentive for both customers and retailers to extend NDD order periods as late as possible'. The analysis also reveals that 'free delivery has generated an 11% uplift in subsequent order value, delivering an impressive 10x return on investment'. Killeen added: 'We've seen first-hand how fulfilment can make or break customer experience and brand reputation in e-commerce. We've always believed fulfilment is a growth driver, impacting customer retention and acquisition – our data now confirms that delivering on the demand for immediacy has a direct impact on new customer acquisition and attracting high-value shoppers willing to pay for premium, rapid delivery via multiple options.'
