The Hut Group profits soar as total sales exceed £1bn

The Hut Group to build $1bn business campus in Manchester - News ...

The Hut Group profits have rocketed while total sales have surpassed £1bn driven by new brand acquisitions and investment in technology.

For the year ended December 31, 2019 the online health and beauty retailer reported a 22% increase in gross profit to £511m and a 22% climb in EBITDA to £111m.

Total group sales soared 24% to £1.14bn and showed particular strength in own brand and international sales.

During the period, the retailer also secured a new €1bn banking credit facility which it has pledged to spend on driving major investments in beauty, nutrition, technology and infrastructure.

read the full article here – retail-week.com