The home fragrance retailer has delivered a “solid” result in its December half despite what the company calls a ‘challenging trading environment’.
For the 26 weeks to 1 January, sales grew 7.6 per cent to $86.1M despite the company recording a 29 per cent decline in foot traffic during peak Christmas trading. Online sales fell 37.8 per cent to $4.8M and represented 5.6 per cent of total revenue. Lower sales online and of high-value items resulted in a decline of the average transaction value (ATV) by 5.7 per cent to $54M.
Outgoing group CEO and MD, Peter King, said: “Channel mix normalisation continued with the increase in brick-and-mortar sales more than offsetting the online decline, demonstrating once again the strength of our model.”
