Update from the research analyst at Morgans
AX1 is now targeting 80 new store openings in FY21 (vs previous guidance of 30-50), so once again a material beat to rollout expectations…..further clarity is required on whether this represents a pull forward from outer years. 65 net new stores in FY21 compares to out current forecast of 40 (roughly 4% additional footprint on the 524 FY20 base).With the prospect of strong sales from VIC reopening and upgraded store rollout target, we expect upgrades to flow through.
Update from the research analyst at MorgansAX1 is now targeting...
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