On the call today Mark Ronan was asked about sales in first 7 weeks. He gave a big thumbs up for sales in WA which is operating as if Covid does not exist. He said sales growth was very good and because there were no restrictions Adairs was able to properly assess how the range and new products were being taken up by the customers. That gives me a lot of confidence when the restrictions start to ease.
Investors should not underestimate the power of the Linen Lovers Loyalty Program. In my house I have two active members and what Mark Ronan said on the call is my experience.
Investors should also not underestimate the significant uplift in profit that is derived from the upgraded stores that are bigger in floorspace and display a broader range of products. These upgrades are very important to driving improved financial performance.
Other retailers, including Accent Group and Bapcor also confirmed this week that they had boosted core range inventory as insurance against supply chain issues.
I checked the Annual Report today and the current board owns more than $30 million of shares in Bapcor plus lots of options. That is significant skin in the game and I am very happy about that.
Nice to see the SP go up today especially with all the doom and gloom about.
Cheers.......Daicosisgod
Ann: ADH FY2021 Results Announcement, page-26
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