SSG +4.9%: a positive update for the personal care retailer today help the stock edge higher, outperforming a weak market. With just one month left in the financial year, LFL sales are running at +3.7% YTD vs FY21, and nearly +28% higher than pre-CVOID, FY19. More than half of gross profit is said to be coming from products exclusive to Shaver Shop, helping to support both demand and margins. With just a few weeks left in the year, they provided sales guidance of $221-223m, and NPAT guidance of $16.25-16.75m, around 5% above consensus expectations. It seems people are spending money on shavers, straighteners and blow dryers again as they return to the office.
MM is bullish SSG around $1
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