THG shares surge as group reports best quarterly growth in five years

Manchester-based beauty and nutrition e-commerce firm posts revenue growth of 7% for the first quarter of 2026

THG shares surged on Tuesday as the Manchester-based firm defied broader gloom across the retail sector, delivering its strongest quarterly performance in five years.

The beauty and nutrition e-commerce giant posted revenue growth of 7 per cent for the first quarter of 2026, noting that growth was only “modestly impacted” by disruption in the Middle East.

The London-listed company recorded revenue of £393.1m, driven by 8.1 per cent growth in its nutrition division to £159.8m, as reported by City AM.

“It is energising for everyone at THG to see such a strong start to 2026,” said chief executive Matt Moulding.

“While the geopolitical backdrop remains uncertain, we enter Q2 with confidence after a better-than-expected Q1, giving us a stronger base against any unforeseen risks later in the year.”

THG shares climbed 9.5 per cent to 42.2p in early trading.

“Positive underlying revenue momentum was maintained in both divisions,” said analysts at Panmure Liberum.

“Three consecutive quarters of mid-to-high single-digit organic growth are encouraging, but the business still needs to demonstrate consistent translation into higher profits and cash generation, particularly given raw material cost volatility.”