Shares in THG have fallen sharply after the online shopping group warned profit margins for 2021 would come in below expectations and the early part of 2022 would be more challenging compared with the same period last year when global lockdowns fuelled sales.
The company, founded and run by Matthew Moulding, announced on Tuesday that margins for 2021 would be 7.4% to 7.7%, against estimates of 7.9%, but should recover this year. Its shares fell 9% after the update, to 169p, well below the float price of 500p in September 2020.
