A very positive trading update, may be heading to 70c range soon..
• Maintained strong same store sales growth in all markets and channels – Same store sales for the 22 week period were up 7.9%, against last year. Same store sales for the October/November period were up 8.5%, against last year. • Sustained margin improvement – Margin growth of ~200 bps for the 22 week period, against last year, underpinning an increase in gross profit. • Continued strong growth in digital sales and margin – All markets achieved a significant lift in sales, resulting in online sales increasing by 110% for the 22 week period, against last year.
Despite temporary store closures and ongoing foot traffic impacts on the key Christmas trading period, it is currently anticipated the Company is likely to deliver an EBIT result for FY21H1 materially exceeding the prior year half one result (FY20H1: $31.6m), before taking into account the favorable impact of wage subsidies and AASB 16 Leases.
The retail business has not affected by delayed shipment and port disaster. I guess that they use air freight parcel to get inventory which are very small and lightweight.
Pullback to retest support provided a very good entry for those who weren't yet in. 1.4 million traded offmarket at 64 after close so all looking very good for a confirmed breakout and a run to 75c resistance.
Originally Posted by The diver
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