THG Falls After Strategic Review, 2022 Profit Guidance Cut (1)

THG Plc is reviewing the future of its loss-making businesses outside of the beauty, nutrition and Ingenuity platforms with profit at the struggling British online shopping emporium expected to be lower than forecast.

The e-commerce group, which operates hundreds of websites, said the strategic review would lead to a “simplification” of its business. Adjusted earnings are now expected to be in the range of £70 million ($85 million) to £80 million, Manchester-based THG said in a statement Tuesday. It previously forecast earnings of as much as £130 million.

THG stock fell more than 8% in early trading in London.

The ...