Half Year 2020 Adairs Ltd Earnings Call Transcript
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.
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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