Hut Group raises forecasts after Black Friday sales lift | Business

The Hut Group has increased annual forecasts for a second time since its recent listing after a pre-Christmas trading boost.

The online beauty and nutrition products retailer said that it expected annual revenue growth to be between 38 and 40 per cent year on year, compared with previous guidance of between 30 and 33 per cent.

The company said that sales exceeded expectations in all its divisions during the fourth quarter, boosted by “very strong performances during Singles Day, Black Friday and Cyber Week”.

Matt Moulding, founder and chief executive, said that its cosmetics business had continued to grow even though many customers had been unable to socialise during the lockdowns. “People will be spending less on beauty as a category, but market forces