Tag: growth

The Hut Group appoints Richard Pennycook as Non-Executive Director

The Hut Group Limited (‘The Hut’ or ‘the Group’), one of Europe’s fastest growing online retailers and brand owners, is pleased to announce that Richard Pennycook has been appointed to the Board as a Non-Executive Director with immediate effect.

Richard is currently Group Finance Director of WM Morrison Supermarkets PLC (‘Morrisons’) and his vast range of retail experience as both CEO and CFO is highly complementary to the Group. Earlier this year Richard announced he would leave Morrisons at the end of June 2013 to concentrate on building a portfolio career.

Angus Monro, Chairman of The Hut Group, said: “We are thrilled that Richard is joining our Board. He is one of the most respected retailers in the UK and his wealth of experience will be invaluable as we continue to build the Group into a major global ecommerce player.”

Richard Pennycook commented: “I have built a close relationship with Matt, John and the team for a number of years and I have been very impressed with the progress and growth which they continue to deliver. The Group operates a compelling and disruptive business model with tremendous growth opportunities. I am delighted to become part of such an enthusiastic, skilled and professional team and look forward to contributing to The Hut’s future development.”

Enquiries: Hudson Sandler, Andrew Leach / Alex Brennan

Tel: 0207 796 4133

Notes to Editors:

Richard Pennycook

A chartered accountant and graduate of Bristol University, Richard joined the Board of Morrisons as Group Finance Director in October 2005 with responsibility for finance, IT, strategy and multichannel development. Prior to joining Morrisons, Richard was the Group Finance Director of RAC Plc, the quoted specialist motoring and vehicle management company. Previous senior roles include Group Finance Director of HP Bulmer Holdings Plc, Laura Ashley Plc and JD Wetherspoon Plc and Chief Executive of Welcome Break Holdings Plc. He is also Senior Independent Director and Chairman of the Audit Committee of Persimmon Plc.

About The Hut Group

The Hut Group is a ‘multi-category, multi-website’ specialist on-line retailer and brand owner, selling high repeat purchase goods direct to consumers across the sports nutrition; health and beauty; entertainment; gifting; clothing and accessories markets. In June 2011, the Group launched a new division (Technology Services), focused on the provision of business to business software and ecommerce platform services.

The Hut Group launched its first website in 2004 and now operates 15 individually branded websites across product categories which share specific defining characteristics: non-perishable, high repeat purchase, one-man delivery and low levels of customer returned products.

The Hut Group operates 3 ecommerce divisions:

The Group’s ‘multi-category, multi-website’ ecommercemodel is an evolution to the traditional ‘single’ site ecommerce model, enabling the Group to showcase branded products in bespoke retail environments, as required both by the brands and informed consumers.

The Group’s proprietary technology platform is central to the business model. The platform functionality ranges from the presentational layer through to all back office functions including an in-house data centre, whilst also generating in-depth consumer behavioural insight. The technology platform facilitates highly effective data-driven retailing, manifesting as optimised website content and bespoke marketing content generating high levels of consumer loyalty and cross-selling.

In 2009, The Hut Group was ranked no.1 in the ‘Sunday Times Tech Track 100 of the UK’s fastest growing companies’ and ranked the 3rd fastest growing digital company in Europe at the ‘GP Bullhound Media Momentum Awards’ in May 2010.

For further information, please visit www.www.thg.com

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The Hut Group Limited Q1 2012 Trading Update

The Hut Group Continues to Deliver Strong Growth & Agrees a New 3 Year Banking Facility

The Hut Group, one of Europe’s fastest growing online retailers, today reports on continued strong trading for the first three months of 2012.

Financial Highlights:

  • Group revenue* has grown 71%, with growth achieved across each division.
  • Since acquisition in May 2011, Myprotein.com has increased revenue growth from 45% to 87% in Q1 2012.
  • The Group delivered strong organic growth within the Prestige and Consumer divisions.
  • The Group’s Prestige division, including lookfantastic.com, consolidated its market leading position with revenue growth across both its female and male Health and Beauty sites.
  • HQ Hair and Mankind delivered revenue growth of 30% in 2012.
  • Within the Consumer Division, Zavvi delivered 33% Entertainment revenue growth, outperforming a declining Entertainment market.

*(excluding discontinued 3rd party website sales)

Operational Highlights:

  • Since 2010, the Group has been delivering a strategy of diversifying its category and customer mix and consequently, generating more profitable revenue growth.
  • In line with this strategy, the Group: completed its withdrawal in 2011 from White Label operations, which accounted for 40% of Group revenues in 2009; has substantially diversified sales into new high margin categories, reducing reliance on Entertainment revenues from 100% of Group revenues in 2009 to 35% in 2012; and has withdrawn from the Music and Books categories in early 2012.
  • Over the past two years sales have trebled whilst the Group has implemented this strategy.
  • The Group has invested significantly to increase the efficiency and scale of its UK warehouse operations, increasing from 110,000 sq. ft. to 315,000 sq. ft.
  • The Group is launching Myvitamins.com in Q3 2012, to broaden the Lifestyle Division’s product offering and to reach a broader demographic.
  • In May 2012, the Group renewed and extended its banking facilities with Barclays.
  • Angus Monro, Chairman, commented: “The business consistently delivers market leading revenue and earnings growth period after period. Matt Moulding and John Gallemore have built a team which has developed the sector’s leading proprietary technology platform, grown UK and international customers to in excess of 6 million and which is delivering growth across each of its categories. The Group’s business model is very well positioned as it continues to reduce the mix of Entertainment by growing higher margin category sales, particularly against the backdrop of a challenging High Street environment and the continuing sales channel shift online.”

Notes to Editors:

About The Hut Group

Founded in 2004 and based in Northwich Cheshire, The Hut Group is an online retailer focused on fast moving consumer goods including health and beauty; sports nutrition; gifting; clothing; handbags; footwear; and entertainment.

The Hut Group retails

direct

to consumers through its own websites across 4 divisions:

  • Consumer Division including TheHut.com, Zavvi.com, Iwantoneofthose.com, Allsole.com and MyBag.com.
  • Lifestyle Division including Myprotein.com and Myvitamins.com (launching in Q3 2012).
  • Prestige Division including Lookfantastic.com, Mankind.co.uk and HQHair.com.
  • Technology Services providing contractual ecommerce technology services to 3rd parties.

In 2009, The Hut Group was ranked no.1 in the ‘Sunday Times Tech Track 100 of the UK’s fastest growing companies’ and ranked the 3rd fastest growing digital company in Europe at the ‘GP Bullhound Media Momentum Awards’ in May 2010.

For further information, please visit www.www.thg.com

Please find below a list of websites owned by The Hut Group. For more information please visit their websites.

The Hut Group Limited 2011 Trading Update

The Hut Group Delivers Strong Growth in 2011

The Hut Group, one of Europe’s fastest growing online retailers, today reports on trading for the 12 months ended 31 December 2011.

Financial Highlights:

  • Group sales growth of 70% from £84m to £143m in 2011.
  • 92% of combined Group sales were generated through the Group’s own sites, with the balance of revenues generated from services delivered to major retail partners.
  • International sales now account for 35% of total sales.

Operational Highlights:

  • The Group continues successfully to execute its strategy of retailing fast moving consumer goods across its multiple branded websites, powered by its proprietary technology.
  • 78m visits to Group websites during the year.
  • Acquired MyProtein.com in May 2011, which contributed £16m to Group sales in the seven months post acquisition.
  • 134 NVQ apprentices trained in operations across the Group, investing in the young, local workforce whilst creating a recruitment talent pool for the Group.

Matthew Moulding, Chief Executive, commented: “2011 has been another record year for The Hut Group. Our focus on delivering best in class value and service to our UK and international consumers has enabled the Group to gain market share, particularly in the final quarter. Our business model positions us well against the backdrop of a challenging High Street retail environment and the continuing sales channel shift towards online retail and therefore the Group is very well placed to continue its high growth. Our focus for 2012 is on driving strong organic growth by further improving our service to our customers, continuing to expand our product range and increasing our international sales.”

Enquiries:

Hudson Sandler – Tel: 0207 796 4133

Andrew Leach / Kate Hough / Alex Brennan

Notes to Editors:

About The Hut Group

Founded in 2004 and based in Northwich Cheshire, The Hut Group is an online retailer focused on fast moving consumer goods including health and beauty; sports nutrition; gifting; clothing; handbags; footwear; and entertainment.

The Hut Group retails online through its own sites including TheHut.com, Zavvi.com, Myprotein.com, Lookfantastic.com, Iwantoneofthose.com, Gifted.com, Allsole.com, MyBag.co.uk, Washbag.com, Lookmantastic.com, Mankind.co.uk, HQHair.com and sportdiscount.com. In addition, it delivers technology services (e.g. loyalty reward schemes) for blue-chip retail partners such as DMGT (The Daily Mail).

In September 2009, The Hut Group was ranked no.1 in the ‘Sunday Times Tech Track 100 of the UK’s fastest growing companies’ and ranked the 3rd fastest growing digital company in Europe at the ‘GP Bullhound Media Momentum Awards’ in May 2010.

For further information, please visit www.www.thg.com

Please find below a list of websites owned by The Hut Group. For more information please visit their websites.