From where I am adairs is busy and furniture is being bought...

From where I am adairs is busy and furniture is being bought like crazy.

Interested to know how you got to this conclusion given the update?

Anecdote: I pass an Adairs on the weekly food shop, in a middle class area that has a lot of the sort of SUV-driving working parents that are Adairs natural customer base. Over the last month I've seen a customer in there only once, at a time when the Woolworths, Aldi, Reject Shop etc. are heaving.
(In its favour the Adairs is always beautifully presented, with a couple of kind, motherly-looking assistants doing their best to appear busy).

With the current cost of living pressures and its discretionary nature, I wouldn't be surprised if ADH continues to suffer a big decline in sales in the first few months of FY24. It's not a bad business and I think this will give us a better buying opportunity.