THG Drops Again as Weak Earnings Dampen Spinoff Plan
- E-commerce group’s shares fall 10% as it misses estimates
- THG is trying to recover after plunging 90% since listing
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THG Plc’s plans to demerge its technology platform and switch the listing of its core beauty and nutrition business were not enough to prevent its share price falling further as the e-commerce company’s earnings missed estimates.
The technology division known as Ingenuity provides online commerce services to other retailers. If spun off, it would leave THG with its beauty and nutrition arms, which it described as profitable and cash-generative in a statement Tuesday morning.