The Hut Group (THG) has raised its forecasts for if fourth quarter and 2020 financial year following growth in revenues during October & November. New customer acquisition has been exceptionally strong as was trading during Singles Day, Black Friday and Cyber Week.
THG now says that Q4 revenue growth is expected to be +40 per cent and +45 per cent year-on-year up from its previous guidance by +16 per cent and +25 per cent respectively. FY2020 revenue growth is expected to be between +38 per cent and + 40 per cent year on year with full year revenue expected of between £1.57bn and £1.60bn.
In further news, THG has announced new D2C partnerships with Microsoft which has launched its Rare merchandise website using THG Ingenuity, with Warner Bros, and The Pokemon Company. Frasers Group owned Jack Wills has also placed a new project with the business for international markets.
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