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Online beauty and nutrition retailer THG has seen sales surge 7% in its first quarter ended 31 March 2026, marking its strongest Q1 revenue growth since the pandemic in 2021.
The Manchester-based e-commerce company said growth was only “modestly impacted” by the ongoing conflict in the Middle East (c.30bps), posting a total revenue of £393.1m.
The London-listed firm’s strong performance was headed by its nutrition arm, which saw its sales climb 8.1% to £159.8m.
The division’s solid results were underpinned by growth across all channels, as well as entry into higher-margin product categories such as activewear, creatine, hydration and collagen.
THG also cited pricing and product optimisation as key factors in mitigating hiked whey costs.
Meanwhile, revenues in the group’s beauty arm were up 5.8%, up from 5.4% in the second half of the year prior, reaching £233.3, bolstered by high US demand and a 7% uptick in orders from its primary UK segment.
THG further attributed its success to its flagship beauty brand Lookfantastic, which it said outpaced Britain’s premium beauty market thanks to increased order volume and active customers.
Matthew Moulding, CEO of THG said: “It is energising for everyone at THG to see such a strong start to 2026, building on the better-than-expected momentum we delivered in H2 2025. In Beauty, Lookfantastic is once again outperforming the market following two years of business model change, while the US continues to perform strongly.
“In Nutrition, our diversification into margin-accretive categories is now clearly paying dividends. Activewear continues to deliver exceptional growth, with annualised run-rate sales fast approaching £100m. Growth across activewear and other high-margin categories, including creatine, hydration and collagen, is helping to offset record whey commodity pricing.”
He added: “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.”
