Threads giant Coats Group seems to be bouncing back from the pandemic with the company on Tuesday saying that in the three months to the end of October, its organic revenue was 6% higher than the same period in 2019.
There’s speculation that THG founder and CEO Matt Moulding could take the listed company private after he said he regrets listing the firm around a year ago. Its shares rose over 5% in early trading Monday as a result.
Threads giant Coats Group has said it's taking a major hit from the Covid-19 outbreak as this month has seen brands and manufacturers starting to cancel or defer orders due to large-scale store closures.
Coats Group’s results for 2019 on Thursday showed a company that’s facing global challenges with a muted revenue performance, although profits are rising and its investors seem happy as it shares rose in early trading.