FY21 Result: Slight beat for the online beauty products retailer at their first full year result today. Adore had revenue of $179.3m, coming in just above the top end of guidance, around a 3% beat to market. EBITDA grew more than 50% to $7.6m, though slightly below market expectations despite big jumps in marketing and staffing costs. With gross margins improving and strong active customer growth of 39% in the year, the outlook is positive. They have launched private label, loyalty schemes, added another 18 new brands in the second half and growing out the product mix to attract a broader market, all of which will help grow sales at above market rates. ABY shares were trading around 4% higher at the time of writing.
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Performance update for March, stocks that drove returns & our current positioning
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Friday 26th April – ASX200 -101pts, Newmont (NEM), Resmed (RMD) & Super Retail (SUL)
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Market Matters Research Lead Shawn Hickman with David Koch
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MM is cautiously bullish ABY, looking for a push above $5.50
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Friday 26th April – ASX200 -101pts, Newmont (NEM), Resmed (RMD) & Super Retail (SUL)
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Market Matters Research Lead Shawn Hickman with David Koch
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