Trading has remained strong for dusk across Q3 FY21, especially the like-for-like sales growth (up 44 per cent) has boosted the dusk Group’s earning significantly.
Sales more than doubled for the retailer, while underlying EBIT is up 33.2 per cent. Gross margin increased by 400 basis points.
CEO Peter King says he is pleased with the strength and consistency of the retailer’s current trading and continued strong gross margins.
“Our results including the strong performance of new stores and the contribution of our online channel are testament to our teams focus on execution and our growing appeal of our product offering to an expanding customer base,” he says.
“Looking forward to Q4 FY21, we cycle a volatile period in the prior corresponding year where our stores were closed through April 2020 and progressively reopened between 1 and 7 May. Trading in the days leading up to Mother’s Day weas very strong and we enjoyed strong sales through the balance of May and June, albeit with significant reduced foot traffic in shopping centres.”
Indeed, looking at the next quarter, dusk is expecting sales to reach between $147 million to $151 million, compared to the $100.9 million in 2020.
“We have a healthy inventory position leading into Mother’s Day. Finally we will have around 10 more new stores than the same time last year. When we couple these factors with a buoyant macro environment, which includes strong consumer confidence, continued reallocation of household budgets away from international travel, low interest rates and our customers heightened focus on their homes, we expect to see a favourable trading environment continuing for some time yet,” concludes King.
