A capital markets day is meant to boost a share price as the company concerned talks major investors through its strategy. But in the case of The Hut Group (THG) this week, it had the exact opposite effect.
The Hut Group shares continued to fall on Tuesday morning after a period of decline that had already seen the firm losing a quarter of its market value in just two weeks by Monday’s stock exchange closing bell.
French luxury resale site Vestiaire Collective’s onward march is continuing with news that it has raised a further €178m in new finance, six months after a previous funding round. The firm is now valued at $1.7bn.
2020’s online sales boomed and fashion was a major influence as revenues for the UK’s 20 biggest pureplay retailers jump 22% to a record £16.4bn. Online fashion retailer sales alone rose 14.2% to £6.9 billion.
The Hut Group continued to go from strength to strength in the first half of the year with group revenue rising almost 45% to £958.8 million year-on-year, and rising 95% compared to the first six months of 2019 (2YoY).
LVMH’s premium beauty operation Sephora has confirmed the widely expected acquisition of Feelunique. It has signed a deal with Palamon Capital Partners and other shareholders to take over the UK-based beauty e-tailer.
Being a listed business has its advantages, but also means closer scrutiny and a need to respond to the interests of shareholders. Both long-time-listed JD Sports and newcomer THG have felt this keenly in recent days.
It seems 4,000% growth in a year isn’t quite enough. So fashion and beauty online discounter Secret Sales has secured £10 million in new funding to ensure it remains at the forefront of the booming sector.