Temple & Webster gross sales soar as prospects buy | Australian Markets
Shares in Temple & Webster have scaled new heights after the online furnishings retailer revealed web revenue more than doubled within the first half, fuelled by growing demand for lavatory fixtures and ceiling followers.
Temple & Webster on Thursday mentioned web revenue surged 118 per cent to $9 million, with income growing 24 per cent to $313.7m within the half yr to the tip of December. UBS had forecast gross sales to hit $311m.
The sturdy end result despatched shares closing at a file high of $16.14.
The Mark Coulter-led company sells over 200,000 merchandise — starting from furnishings, homewares and home renovation — and operates a drop-ship model the place suppliers ship on to prospects.
Temple & Webster informed buyers home enchancment was its quickest growing class, reporting a 41 per cent growth in income to $20.3m “as customer awareness of our offering grows, driven by both new and repeat customers”.
“Our home improvement business continues to grow strongly, providing us with access to a $17 billion-plus market with no online-only dominant market player and low online penetration,” it mentioned.
The retailer — price slightly below $2b — mentioned non-public label penetration of home enchancment elevated markedly since 2023, with continued success in Temple & Webster’s own assortment of vanities, tapwares, basins, bogs and ceiling followers.
“Temple & Webster has again delivered a record half, with strong performance against all key metrics, against a challenging macro and consumer backdrop,” Mr Coulter mentioned.
“We continue to deliver on our mission of providing beautiful items for the home at great value, as reflected in our strong revenue, active customer and market share growth.”
Offering a trading replace, Temple & Webster mentioned the gross sales growth had continued into the second half. Income is up 16 per cent within the six weeks to February 10.
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