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Closer inspection on this, it's a smart move by Gymshark.

What they are doing is advertising Gymshark on this new High protein, low sugar cereal called "Surreal" with lots of logo on the front and half the back of the box being a competition to win £1000 worth of Gymshark clothing.

A word that could probably be used to describe the THG share price but it's sadly not what I'm bringing attention to.

Gymshark look like they have started encroaching into the THG foodstuffs space.

My better half has just come in with a box of "Surreal" Cereal, which has Gymshark emblazoned all over the box. High in protein and % sugar will appeal to many. They got it in Sainsburys.

Easy enough to follow if you don't have a "moat", trademarks or copyrights

Please dyor.

dyor

Navek, I'm really not sure what PI's can achieve unless you think protests outside THG's HQ and other venues mentioned might bear some fruit.

I actually gave a brief resume of what happened to Kelso yesterday on here , after they came onboard as activist invest to help lift the share price. It's now 31p, or just under. Here's what I wrote

"To be fair they went in here full of good intent. Sang the praises of THG Nutrition, and in my view attracted in Apollo with a bid which one Dutch investment house seemed to think was in the 200p to 250p. Door shut swiftly. Gave numerous pieces of good advice - leading to a 95% of which is binned comment, Then you had the "Packman defence" with Moulding purchasing Kelso shares to try and dampen their efforts, then an attempt at replacing the Chairman voted down, and wasn't there a "my dogs got more shares comment" levelled at them.

Hardly shareholder friendly and as the sayng goes you reap what you sow. Yet no seeming will to change on an encouragement of investor front.

So what's the solution when all the businesses you have under the THG umbrella end up becoming "high quality non recognised businesses"? For that is the picture it appears someone is creating with this constant daily drop since results.

My mistake if I've misinterpreted that. I read that as the average price their holding was now down to.

Cong, it was in the opening part of investor95's post further down.

"Kelso holds 4.0 million shares in THG, currently valued at approximately £1.5 million based on a share price of 37p as at 24 April 2026. THG's share price as at 31 December 2025 was 45.8p, compared with 45.0p a year earlier. At the current share price, the holding represents approximately 10% of Kelso's portfolio."

Only one way they got to an average share price of 37p with a smaller holding, is by trading it.

Cong last time I looked I think they had 5.5M shares at an average of over 50p. 55p I think. So they appear to be trading their way out of THG.

To be fair they went in here full of good intent. Sang the praises of THG Nutrition, and in my view attracted in Apollo with a bid which one Dutch investment house seemed to think was in the 200p to 250p. Door shut swiftly. Gave numerous pieces of good advice - leading to a 95% of which is binned comment, Then you had the "Packman defence" with Moulding purchasing Kelso shares to try and dampen their efforts, then an attempt at replacing the Chairman voted down, and wasn't there a "my dogs got more shares comment" levelled at them.

And here we are at 31p still rainbow chasing growth at the expense of profit and despite over £1.25 Billion spent on beauty businesses, not one bit of profit or a dividend for anyone. No noticeable Investor Relations either for retail investors. Hardly an endearing story to anyone wishing to invest imo. Virtually all the same Board of Directors and top team still in place.

I deinitely think they are trading the share and also using CFD's to reduce and get out with profit.

May even be partly behind the present fall.

Thought someone might have picked up on Mikeys Frasers Group having just bought the York and East Midlands Designer Shopping Centres. Good places for some LookFantastic stores.

Also surprised nobody made reference to Glanbia's top notch growth today for it's Optimum Nutrition brand, + 18% growth, and all Guidances at the top end. dyor.

?

Except on this occasion Davffed I am not doing any master stroke.

It ls the market that is doing the market stroke and I'm just commenting on possible reasoning.

What happened today?

At this rate seriously Mr Moulding WILL be getting a phone call off his mother asking how he is.

I'm honestly at a complete loss. The market clearly doesn't want growth, growth, growth with no profits, no dividends and no buybacks, or cash distributions. Yet what do the Managment team keep giving the market. Growth and no profits. Well over £1.25 Billion spent on the remaining businesses and still not a sausage for shareholders. It's really hard to find reasons to invest when quarter after quarter, year after year all you constantly get is a Nil return on your money, and nil response from Investor Relations.

Has anyone ever honestly asked the Board or IR, and got any response, on what the actual plan is for delivering true shareholder value to it's shareholders, and when that might actually happen. It's getting really hard not to think that the City all along has called THG correctly in betting against the company.

The answer seems obvious on many fronts, yet nobody seems remotely interested in changing things.

Another nice RNS off them this morning.

Can anyone care to tell me why most shares they seem to invest in do extremely well thereafter with the likes of the Works, Saga and Filtronic three recents.

But THG is clearly their lagging investment, and after offering so much value accretive advice.

Don't get me wrong, it did great after they first invested and shouted from the rooftops on the merits of the THG Protein division and it was they who were in my view instrumental only a couple of months after investing in teasing out the Apollo bid which was rumoured to be between 200p and 250p.

By the way they did attempt to drum up the support to change the Chairman on an AGM vote and here we are, same Management THG Team (minus Vivek) pushing for growth and still not one bit of profit or a dividend for shareholders, and at 37.30p.

Cong the point isn't so much the fact the post is made on Linkedin.

It is when it is copied across or transposed onto here.

I never watched all of yesterday, just looked in later, and thought it strange it was down and it seems to have been synonomous with the post apperaing on the bulletin board.

It is what is happening constantly, almost like it's a game to some, same was happening when the analyst meetings got underway but they were normally triggered by something said, sometimes not though. It can't be going unnoticed.

Better just to deliver the numbers like others and say nothing more if you don't need to. Sometimes little is more imvho.

So the fall yesterday seems to have coincided with another Linkedin post and bringing up a historic episode from some 5 years back when his mother challenged Oliver Shah at the Times and then MM said he was going to no longer adopt the stiff upper lip and fight back. The share price back then was 51 to 55p and after 5 years after, with the Ingenuity financial drain and misfiring and still not a drop of profit or dividend its 39p. So that's work. Not!! Plenty articles out there from the time.

No analyst meeting yesterday I thought was a positive and let the share price move positive without any loose comments.

I really thought THG had moved on from all of that.

Why is he doing this? Can he not see that virtually every time he does it, it is detrimental to the share price? Why isn't someone in the inner circle telling him (Chairman for instance)

It just beggars belief imvho

Staneyb, I'm delighted at the reaction.

Always outfox the fox as they say.

Trading statement reads OK with some good highlights like Kroger but despite improvements its delivering only maintained guidance. Beauty Q1 25 to Q1 26 is only also showing modest growth, but against Q4 it is significantly down £369.8 to £233.3M (Post Christmas effect)

US headwinds now starting to be mentioned as well as modest Middle East headwinds though more relevant to Beauty. What's also happening with THG Nutrition in Asia to dampen THG Nutritions growth?

No analyst meeting this time unless I missed it. Last time only 3 turned up. So no opportunity to clarify or question on the status of the HMRC rebate.

It should you would think lead to a share price rise but it's THG, so who knows.

Overnight notice again.

Lets see if we can improve on the last with only 3 analysts attending to ask questions, and whether it gets crashed back to 28p, or if it rises?

"Total paid for Beauty businesses = £1.2193 Billion."

THG Nutririon 6 X the revenue of Applied Nutrition in 2025, 10% discount on the present market cap with any £78M Vat rebate and just totted up those High Value Non-Recognised businesses as £1.219 Billion of Beauty businesses for Free. (Some perhaps overpaid for, some like Biossance bought on the cheap and some developed since and probably worth considerably more.)

Dermstore. £260.9M. 2020

Bentley Labs. £180M. 2021.

ESPA. £68.2M. 2017

Bentley Labs. £180M. 2021

Lookfantastic. £19.4M. 2010

Illamasqua. £16.9M. 2017

Eyeko £16.5M. 2018

Acheson and Acheson. £52.8M. 2018

Christophe Robin. £44.7M. 2019

PerriconeMD. £51M. 2020

Cult Beauty. £291.3M. 2021

Biossance £15.7M. 2023

SkincareRX £4.4M. 2016

Glossybox - £17.5M. 2017

Grow Gorgeous - Undisclosed. 2016

Total paid for Beauty businesses = £1219.3 Billion.

Seems like you beat me to the same conclusion (without the working out) by 3 minutes Oculus.