The run up to Black Friday Sale and Christmas have always been incredibly important to ADH results, so this year is no different to all those years past.
The Australian consumer is in relative good shape (better than NZ) plus the mining and energy industry in Australia is pouring money throughout the whole economy through wages, capex upgrades and tax payments and royalties back to federal and state governments. The federal budget due in a couple of weeks will have about $50 billion more in revenue than what Frydenberg had in his last budget and new Treasurer Jim Chalmers has said he is going to spend it.
Immigration numbers are slowly rising and this will help Adairs as new households are established.
Chairman of Adairs, Brett Chenoweth said major institutions had sold off much of discretionary retail stocks on the ASX, Adairs included, and as a bloc discretionary retailers are about 55% down since the 1st Jan'22
GLTAH
Ann: ADH - AGM Chairman's and CEO Address FY22, page-10
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