Notwithstanding the dour outlook commentary....This reminded me...

Notwithstanding the dour outlook commentary....

This reminded me of a post I made a bit over a year ago now regarding Anthony's outlooks

.......
I get that the fortunes of the high end discretionary retailer is likely to be tough for the next twelve months but old Anthony sure manages to see the glass as half full at the best of times.
The following are clips from his AGM outlook presentations across the last few years:

Annual Report 2018.... whilst we continue to generate positive sales growth........ same store sales growth will be challenging in this volatile trading environment, particularly given the slow down in residential sales, a key driver for furniture sales. In addition to the falling housing sales we now have a lower dollar which may cause a reduction in our gross margin
(Profit and EPS for 2019 were marginally up on the 2018 numbers)

Annual Report 2019...... same store sales order growth has been negative.......... the difficult trading conditions of 2019 financial year have persisted into the 2020 year. Store traffic is down compared to the same period last year and same store sales are down 8%.
(Profit and EPS for 2020 were equal to the 2019 numbers)

Annual Report 2020....... exceptional levels of growth in recent months ....... however, trading conditions continue to be unpredictable with the potential for government restrictions to continue to impact stores for the foreseeable future
Profit and EPS numbers doubled from 2020 to 2021)

Annual Report 2021....whilst we have a strong order bank, it is difficult to forecast sales revenue and profitability for the second quarter giver the continued supply chain disruptions we are experiencing. These include the Vietnam lockdown,, shipping delays, container availability and port congestion
(Profit and EPS dropped about 12% from 2022 to 2021 but the half year result just published more than picked up that shortfall)
........

@SteveSage

I remember talking to an employee when ordering some furniture a few years ago and it would seem that although much of the furniture is manufactured in China, use is made of Vietnam, Cambodia, Malaysia and India. I think they remain flexible with respect to their manufacturer of choice.