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The Reject Shop Limited announced the CEO,s resignation,1HFY23 Results,and Trading Update

Feb 01, 2023

The Reject Shop Limited (ASX: TRS) stated that Phil Bishop, Chief Executive Officer (CEO), resigned immediately for personal reasons. Meanwhile, Clinton Cahn, Chief Financial Officer (CFO), has been named Interim CEO and will continue to perform his CFO duties. He served as CFO from May 1, 2020, and as Interim CEO from April 2022 until July 20, 2022.

1HFY23 Preliminary Unaudited Results

  • Sales in the first half is forecasted to be AU$439.7 million, up 3.5% over the previous corresponding period (PCP) and comparable store sales increased 2.4% on PCP.
  • The company’s balance sheet remains robust with a cash position at 01 January 2023 of approximately AU$84 million with no debt.

Trading Update

Although sales in the PCP were negatively impacted by the Omicron variation of COVID-19, the company has produced positive comparative store sales growth over the first four weeks of the second half.

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