#THG – Q4 and FY 2021 update, argues expects current year adj. EBITDA to be H2 weighted. Hmmm

The Hut Group (THG plc) – not an invitation to short but an obligation to

Shares in The Hut Group, THG plc (THG), listed at 500p in September 2020, then zoomed to 800p but now trade below 200p. Even so this business is still valued by the market at £2.2 billion.

Matthew Moulding: the curious case of #THG founder’s property deals - The Guardian

#THG – Q3 update, emphasises revenue growth but the bottom-line?

#THG – CEO share pledge release

#THG – intention for cancellation of CEO ‘Special Share’ and Premium segment listing application next year

#THG – argues “knows of no notifiable reason” for latest share price fall. Er, what’s the market cap still?

#THG – under scrutiny so… Capital Markets Event and “2030 Sustainability Strategy”!

So many reasons to keep on avoiding The Hut Group

Apparently The Hut Group (THG) ‘is a British e-commerce company headquartered at Manchester Airport … operates over 100 international websites that takes brands direct to consumer through its proprietary e-commerce platform’.  How wonderful but the last time I wrote about the stock (here) observed that it was ‘over-loved’.  Kind of interesting then to see a big 43% fall in the share price year-to-date.  

#THG – H1 still even adj. loss, reiterates guidance

#THG – £743m fundraising at 596p per share, including SoftBank subscription

#THG – Q1 2021 revenue +58.2% YoY, FY20 +41.5% but still loss-making

The Hut Group looks over-loved to me

Back in late October, I wrote about THG Holdings (THG), The Hut Group, observing then that company had been performing well since its September listing.  Back in October, it estimated a 30% odd increase in Q4 sales across beauty and other third party products, but today’s announcement achieved a super dynamic just over 50%, led by Beauty, Nutrition and OnDemand businesses. So well done The Hut.  

#THG – Q4 revenue +51% YoY, increases guidance

#THG – agreement to acquire Dermstore for $350m & £59.5m acquisition of nutrition product suppliers Claremont and Berryman's

#THG – FY 2020 revenue upgrade, “continues to expect stable adjusted EBITDA margins”

Am I wrong about The Hut Group?

I have written a couple of times about THG Holdings (THG), The Hut Group, about which I essentially stated that you should not be chasing this one after the first day IPO pop from the 500p list price to a c. 600p share price. Well that was all fine and dandy, until the last week or so when the share has pushed up about 10% or so. Funnily enough, today's third quarter update notes not only an acceleration in revenue growth (to 38.6% from 35.8% in H1) aided by strong progress in the direct-to-consumer and its Ingenuity Division ('beauty manufacturing and product development for third parties'), but increased full year revenue growth target from a c. 25% increase to a new guidance range of 'c. £1.48bn to c. £1.52bn (+30% to +33%)'...

#THG Holdings – Q3 revenue +38.6% yoy, increases guidance, Q4 key trading period

Offering advice to London's newest large cap listing The Hut Group

Earlier this month I wrote a pre-IPO article about The Hut Group (THG), concluding you should 'brace yourself for the newspapers falling all over this one the day after it lists post a day one share price romp' and that essentially I was not going to chase it. This was due to a variety of concerns...