Jan 12, 2021
City Bulletin: The Hut Group boosts sales guidance — for third time
The Hut Group has boosted sales guidance for the third time since its flotation in September. The Manchester-based ecommerce retailer said a strong start to the year meant revenue growth of between 30 and 35 per cent, up from previous guidance of 20 to 25 per cent growth. The company's cosmetics business drove the beat, delivering 66 per cent sales growth in the fourth quarter, while its food supplements divisions performed in line with expectations with 40 per cent growth. Current quarter like-for-like sales are up 16.9 per cent with ecommerce sales surging 150 per cent, the retailer said. Games Workshop's half-year update showed sales rising 27 per cent to £188.6m and profit before tax ahead 56 per cent to £91.6m. The fantasy model maker said it had delivered "Record sales, profit levels and cash generation in the period" with North America a standout market.
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