Growth rate for TPW has essentially gone from +170% at peak to +100%.
Problem is, shutting competitor's physical stores helped them greatly, but was a once (or twice) off.
Whilst Adairs would have picked up a few extra customers online, many are Linen Lovers members who would have purchased in store. I'm not sure the Adairs online offering would be impacted anywhere near as much.
Nevertheless, interesting to see the reaction.
Very Happy, page-18
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