Adairs Ltd (ASX:ADH)

A$ 1.91 -0.005 (-0.26%) Market Cap: 334.52 Mil Enterprise Value: 588.34 Mil PE Ratio: 9.83 PB Ratio: 1.54 GF Score: 89/100

Half Year 2020 Adairs Ltd Earnings Call Transcript

Feb 21, 2020 / NTS GMT

Release Date Price: A$2.59 (+7.92%)

Transcript

Operator

Thank you for standing by, and welcome to the Adairs Interim Results Call for the 2020 Financial Year. (Operator Instructions) I would now like to hand the conference over to Mr. Mark Ronan, Managing Director and CEO of Adairs. Please go ahead, Mr. Ronan.

Mark Ronan

Adairs Limited - MD, CEO & Executive Director

Good morning, everyone, and welcome to the Adairs' First Half 20 Results Call. With me this morning is Ash Gardner, our CFO; and Jamie Adamson, our Head of Investor Relations.

The first half of financial year '20 has seen Adairs deliver a record sales and profit results. Our omnichannel strategy has seen us grow sales across both our physical and digital stores, with stores delivering 2.4% like-for-like growth, whilst our online store grew 31.6%.

Our gross profit result was a real highlight, with our gross margin up 20 basis points to 61.1% despite a FX headwind of approximately 160 basis points. The team have worked hard on a variety of initiatives across the business to deliver this result, and it shows that we are capable of

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