On top of everything discussed by others. Here are more headwind I think Adairs will have to face in the near future.

I will imagine furniture and home decoration companies make more sales when people are moving homes. This can be thru new home purchase or rental. Here is the statistic for new home sales in AUS last few months.

And here is the amount of properties listing for auction and clearance rate. It also shows the number for same time last year.

I tried to search for data regarding rental listing but had no luck. However, with rent keep going up, it indicates that demands far exceeded supplies. I think renters will likely stay where they are even if they have to pay more rent, instead of risking being homeless in a very competitive market.

All these point to possibly less people will be moving home in the near future and hence, bad news for Adair or any other furniture companies to be fair. I bought a small amount of their shares in June, and sold most of them Monday at $2.30. My first straw done!

DISC: Hold IRL, tiny amount