Adairs Limited (ASX: ADH) has provided update on the ways it had managed its business during the 5-week store closure to 3 May 2020. It is also progressing towards re-opening its stores.
- Online sales exceeded expectation and improved by 221% during this period.
- Total Australian sales dropped by ~ 37% as compared to the previous corresponding period.
- Mocka Australia sales boosted 151% on the previous year through this phase.
- Mocka New Zealand resumed operations on 28 April 2020. Strong sales noted from this.
- Stores would reopen from 7 May 2020 and all the stores are expected to reopen by June 2020 end.
- The company has registered itself for JobKeeper in Australia and it is negotiating with the landlords.
There is no investor left unperturbed with the ongoing trade conflicts between US-China and the devastating bushfire in Australia.
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