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Adairs' half-year results show a 10.1% sales slump

EditorOliver Gray
Published 26/02/2024, 10:20 am
Updated 26/02/2024, 10:20 am
© Reuters

Investing.com - Adairs Ltd (ASX:ADH), a prominent bedding and furniture group, reported a significant 10.1% dip in sales to $291.4 million in its half-year results. The company attributed this decline primarily to lower customer footfall, inconsistent availability of core product ranges, and a lacklustre season for fashion bed linen.

Compared to the same period in the previous year, Adairs experienced a "significantly lower" amount of customer traffic. The company also noted that sales continue to pose a challenge for the initial eight weeks of the second half of the 2024 fiscal year.

The company observed that consumers are increasingly focused on value, resulting in a noticeable decrease in conversion rates when promotional offers are scaled back.

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