Revolution Beauty soars on Boohoo's 7.1% stake buy
17/08/2022 09:10
** Shares of makeup company Revolution Beauty Group REVB.L
jump as much as 37.1% to 32.90, set to log its fourth
consecutive session of gains
** Online fashion retailer Boohoo BOOH.L buys 7.1% stake
in Revolution Beauty urn:newsml:reuters.com:*:nL4N2ZT1D6
** Boohoo is now the fourth-largest shareholder of the
beauty products maker
** Revolution Beauty's shares had posted their worst
intraday loss and plunged 60% on August 2 after it slashed its
FY forecast to low single digit revenue growth and expectations
of loss in H1 urn:newsml:reuters.com:*:nRSB5832Ua
** On Aug 11, the makeup co had raised concerns over its
audit management and warned of impact to full year
profitability, sending down shares as much as 57% urn:newsml:reuters.com:*:nRSK7316Va
** Boohoo shares were down 2.3% at 0808 GMT
** Revolution Shares are top percentage gainers across
London Stock exchange
** Stock down 80.5% so far this year, as of last close
(Reporting by Prerna Bedi in Bengaluru)
((Prerna.Bedi@thomsonreuters.com;))