Ann: Trading Halt, page-46

Sukin Bodywash sku in a major Australian Supermarket. Jun 2021 - early June 2022. Shelf price is $9 and promo price looks like $6. I can count roughly 15 promo weeks. I don't know the margin mechanics of the pack, but have a rough idea. Cost of sales would in my view be quite high and whilst I'm sure unit volumes would also be high, this behaviour is hard to wind back into the third year. (base year, this year, next year) so subsequent growth could be challenging. To be objective, BWX does have a portfolio and not just one sku. Holding you space is an expensive game, sometimes it's easier (I didn't say better) to invest in the pack and deliver shopper volume, than it is to bump up investment in other ways. With so many skus in this category and so many shoppers with massively different purchase intervals, if you aren't on, you probably aren't in the shoppers consideration and basket.