Full Year 2024 Adairs Ltd Earnings Call Transcript

Aug 28, 2024 / 01:00AM GMT
Operator

Thank you for standing by, and welcome to the Adairs Limited FY24 results call. (Operator Instructions)

I would now like to hand the conference over to Mr. Mark Ronan, Managing Director and Chief Executive Officer. Please go ahead.

Mark Ronan - Adairs Ltd - Chief Executive Officer, Managing Director, Executive Director

Good morning, everyone, and welcome to the Adairs 2024 financial year results call. Joining me this morning on the call is Ash Gardner, our CFO; and Jamie Adamson, our Head of Investor Relations.

The 2024 financial year was challenging with the macroeconomic environment impacting many households and a significant component of our customer base. However, as this was the environment we expected to be operating in, we planned accordingly, and we're focused on delivering against those elements that were well within our control.

Group sales were down 4.3% with the higher cost of living pressures seeing a reprioritization of household expenditure and a decline in customer traffic. Disciplined purchasing and pricing

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