Despite 2020 being one of the most difficult years ever for Australians, businesses and the community, there are some shining stars in the gloom that have been able to weather the storm.
One of those that seem to have thrived in the gloom is homewares retailer Adairs. Adairs is one of Australia’s biggest home retailers with stores in Australia and New Zealand. Fortunately for the company, they have built an online platform that has been able to save the company during Covid and lock down.
Adairs have advised that their online sales have boomed, almost doubling to 99.7% this financial year to date. Their physical stores did not achieve the same growth but during these tough retail periods, it still rose by 5.2 per cent which equals 39 per cent of total purchases.
Adairs acquired Mocka, a New Zealand based homewares store and this group performed well for the company, contributing approximately one third of the sales.
Overall, the company expects that EBIT (earnings before interest and tax) will almost triple the previous year to $66 million in the first half of the year.
The major obstacle at the moment is the amount of stock Adairs can acquire within a reasonable amount of time. Due to COVID issues world wide, there are wide spread shortages of raw materials and finished goods across the globe resulting in delayed delivery of products.
If you’re looking to save at Adairs, use an Adairs coupon code to save on your purchase.