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(Sharecast News) - Online retailer THG said on Tuesday that Q2 trading has been "much improved" across both its beauty and nutrition units, with the overall group returning to constant currency revenue growth, underpinned by a "strong June exit rate".
Following "a significant improvement" quarter-on-quarter, THG said its beauty arm was expected to deliver a revenue decline of between 2.0% and 3.0%, up from Q1's 9.8% drop. Beauty retail, which comprises the vast majority of the THG beauty business, "traded resiliently", with growth in the UK at its highest rate since Q124, supporting market share gains
The FTSE 250-listed firm also noted that "positive momentum" within its nutrition division continued to build, with revenue growth expected to be between 5.0% and 7.0% in Q2, up from the 0.1% uptick seen in Q1 and the business' fastest growth rate since Q1 2022.
THG added that whilst its direct exposure to tariffs was expected to be less than 1.0m pre-mitigating actions, it was continuing to monitor changes to US trade policy and "reciprocal actions" for an adverse impact on raw material supply chains and US consumer sentiment.
Reporting by Iain Gilbert at Sharecast.com
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