Endeavour Group reports solid Q3 performance

Endeavour Group Limited (ASX: EDV), an Australian liquor retail company, reported strong sales results for Q3 FY23 with stability across both retail and hotels. Sales for the quarter grew by 3.7% to AU$2.83 billion compared to Q3 FY22, with retail sales returning to growth in December and continuing to track ahead of last year over Q3. In-store sales drove this growth, growing by 2.8% in the quarter.

Complementing this was a trend towards pick-up, which represented 53% of online sales in the period, reflecting the convenience of the Omni channel offering. Customer sentiment remained strong, and the My Dan’s membership program grew, reaching a significant milestone in the quarter with over 5 million active members. In Hotels, food, bars, and accommodation continued to be materially above the prior year, and gaming has returned to pre-pandemic share of turnover with low single-digit growth in the quarter.

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