Adairs cuts interim dividend amid sales slump
Sydney-based soft goods retailer, Adairs, has reduced its interim dividend as sales fell by 10%, and earnings dropped by 19% in what directors described as a “challenging macro-environment.”
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Shares in Adairs plummet
Shares of homewares retailer Adairs (ASX:ADH) experienced a substantial decline of more than 15% during Monday trading.
Read MoreBourse Discourse: BEN, ADH, A2M
The final week of this reporting season kicked off yesterday with results from, among others, regional bank Bendigo and Adelaide, retailer Adairs and Kiwi dairy leader A2 Milk.
Read MoreMarket Morsels: ADH, SUL, SHL, A2M
Pandemic-related damage popped up in a couple of interims from retail groups on Monday, while Sonic Healthcare’s good run may just be petering out and A2 Milk’s luck about to turn.
Read MoreADH – Morgans rates the stock as Add
The broker lowers its target price to $3.70 from $4.80. It’s thought the estimated FY23 price earnings ratio of 7.6x and currently attractive dividend yield are enough to retain an Add rating.
Read MoreAdairs Slumps 20% on Sales Downturn
Adairs shares slumped more than 20% yesterday after the company joined the list of retailers warning of damage done to sales and earnings by last year’s Covid-driven lockdowns.
Read MoreDiscourse from the Bourse: ADH, NAB
From the ASX on Thursday: Adairs has surprised with an $80 million plunge into the furniture market, while NAB’s acquisition of Citi’s Australian consumer banking businesses has met with ACCC approval.
Read MoreLockdown Reality Bites Traditional Retail
Unlike a year ago when it was clear retailing was doing very well in the rebound from the first wave of the pandemic (especially online during the shutdown), this time around it’s a very mixed bag.
Read MoreADH – UBS rates the stock as Buy
Buy rating retained. Target rises to $5.40 from $4.40.
Read MoreAdairs Makes Move on Mocka
Sydney-based homecrafts retailer Adairs has moved to take full control of online homewares and furniture retailer Mocka, in which it had bought a 65% stake in December 2019.
Read MoreADH – Morgans rates the stock as Add
Morgans conducts a review of the retail sector and assesses there continues to be several consumption tailwinds in place. The Add rating and $4.50 target are retained.
Read MoreADH – Morgans rates the stock as Add
Adairs’ first half result was slightly above Morgans earnings (EBIT) and profit (NPAT) forecasts. The Add rating is maintained and the target price is increased to $4.50 from $4.00.
Read MoreRecord Half for Adairs Despite JobKeeper Repayment
Linen seller Adairs will repay $6.1 million worth of JobKeeper subsidies claimed from the federal government in 2020 after confirming earlier guidance for a record half-year result for the company.
Read MoreFabric Maker Adairs Joins In On Retail Boom With “Outstanding” First Half
Shares in fabric, linens, and millinery and homewares group Adairs jumped more than 5% at one stage yesterday after the group produced another update to its performance.
Read MoreAdairs, Nick Scali Provide “Good News Story” For Retail
Two more bullish trading updates for the start of the 20120-21 financial year from retailers Nick Scali and Adairs.
Read MoreADH – Morgans rates the stock as Add
Adairs FY20 result was circa 10% above Morgans forecast. The company also reported a strong start to 1H21, according to the broker, but no FY21 guidance was provided.
Read MoreAdairs Rides Online Sales Wave
Shares in linen and homewares retailer Adairs has emerged as an unlikely big winner from COVID-19 and the move to online selling.
Read MoreAdairs Set To Reopen, Turbulence Yet To Clear At Flight Centre
Fabric and home crafts chain, Adairs has ruled out the need for a capital raising and will start to slowly reopen stores from this Thursday after reporting a 37% drop in total sales during its store closures over the past 5 weeks.
Read MoreMore Retail Pain As Myer Leads Slew Of Shutdowns
More retailers have closed their doors to limit the impact of the COVID-19 virus. Myer is standing down 10,000 staff straight away, Kathmandu is closing 170 outlets while South African controlled – David Jones is shutting 280 of its fashion brand stores including Country Road, Witchery, Mimco, and Politix.
Read MoreADH – Morgans rates the stock as Add
The company will acquire Mocka, a vertical online retailer of affordable homewares and furniture. While the multiple is not cheap, Morgans notes it is rare to acquire an online business that is profitable and light on capital expenditure.
Read MoreAdairs Shares Soar After Online Acquisition
Another company to stand out in yesterday’s second day of selling (besides oOH!Media) was Sydney-based homewares and fabric seller Adairs which revealed a big move into the online space via a deal that could cost it more than $95 million in cash and shares.
Read MoreAdairs Navigates Tough Retail Environment
Shares in homewares retailer Adairs staged a rare rise amid yesterday’s wider sell-off, even though it revealed a weaker 2018-19 result.
Read MoreOnline Sales Helps Adairs Bed Down Record Result
Adairs has completed a solid recovery from the weak performance in 2016-17 by lifting net profit 45% to $30.6 million and boosting final and total dividends for the year to June 30.
Read MoreAdairs Shares Jump As Sales Improve
Now that’s a positive reaction – manchester and homewares group, Adairs saw its shares leap more than 34% in yesterday’s negative market after a surprise upgrade to its outlook.
Read MoreAdairs Shares Slump As Sales Slip
No wonder the manchester and homewares retailer Adairs’ (ADH) first half results yesterday were treated badly by investors after the company also downgraded its full year outlook and guidance.
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