Top member reports
No meetings
Consensus community valuation
The consensus valuation is for members only and has been removed from this chart. Click for membership options.
Contributing Members
Content is delayed by one month. Upgrade your membership to unlock all content. Click for membership options.
#ASX Announcement 14/1/21
stale
Added 3 years ago

Second Quarter Business Update

KEY POINTS

• Significant EBIT growth – The Company expects FY21H1 Group EBIT1 of $56m to $60m, with comparable EBIT2 for the half of $41m to $45m (FY20H1: $31.6m), representing 30% - 40% EBIT growth.

• Solid growth in same store sales in all markets and channels – Same store sales were up 6.3% for the half and up 5.6% for the quarter against prior year, with an outstanding performance in Australia.

• Sustained margin improvement – Margin growth in all markets and channels of 150 to 250 bps for the half against prior year, underpinned by the strategic initiatives implemented over the last eighteen months

. • Growth maintained in digital sales – For the half, online sales were up 102%, with digital initiatives continuing to deliver increased sales and margin across all markets. Digital channels now represent 5.8% of total sales (FY20H1: 2.8%).

• Continued growth of branded collections – Branded collections represented 38.4% of total product sales for the half (FY20H1: 35.4%).

• Strong balance sheet and ongoing disciplined cost focus – Diligent management of all expenditure, working capital, inventory levels and a sustained, deliberate focus on CODB delivered a significant cash position at half year end.

• Canadian segment impacted by temporary store closures – In accordance with COVID-19 government directives, 21 stores progressively closed through November and December, and a further 25 stores closed from Boxing Day.

• Store portfolio management – No stores permanently closed or opened in the quarter, with a network total of 289 stores across all markets at the end of the half (FY20H1: 304).

*Also to pay outstanding div on 29/1/21 for shares held RD 13/1/20

View Attachment

Read More