Adairs reaffirms its FY2023 guidance; Shares up on ASX

Adairs Limited (ASX: ADH) has reaffirmed its guidance in an ASX announcement today. The Company highlighted that trading in the first 16 weeks of FY2023 is in line with the plan and is consistent with the guidance provided in August.

At the same time, the Company provided an update on FY2022 strategic outcomes. During this period, the Company achieved several milestones.

1. The Company passed through 1 million Linen Lover members.
2. It opened 4 new stores and upsized 11 existing stores which delivered a 7% gain on the prior year.
3. ADH’s new National Distribution Centre became operational in September 2021.
4. The group recorded another record level of online sales in FY2022 with 35% of all sales (~ AU$200 million) coming via this channel.
5. Acquired Focus on Furniture during the year.

FY2022 Financial Highlights:

1. Total Sales increased 12.9% to AU$565 million compared to the previous corresponding period.
2. Online Sales improved 4.5% to AU$195.4 million on pcp.
3. Declared total dividend of AU 18.0 cps.

At AEDT 12:17 PM, ADH shares are trading at AU$1.985, up 3.116% from the previous close. 

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