Adairs Provided Trading Update; Would Soon Open All Its Stores

  • May 04, 2020 AEST
  • Team Kalkine

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.

 


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