Adairs reported a huge year last year with sales exploding during COVID and it looks like it’s success is going to continue with sales ballooning again this year. Adairs have been fortunate to be one of the big beneficiaries of Australian’s looking to spend their surplus funds on home improvements and renovations. Many Australians are diverting what would normally be their holiday money into where they seem to spending more time in these days, their home.
Last year, profits for Adairs was $63.7 million, a huge rise of 81 per cent compared to the previous year and it looks like this strong growth will continue this year. Sales were up by nearly 30% to $499.8 million with the highlight being online sales which rose 51 per cent, largely due to half of Adairs stores being shut down during the pandemic.
Shares are trading at $3.77 which has been subdued due to concern that the strong run will slow down.
What Adairs aims to do this year is grow their Linen Lovers loyalty program as this program keeps customers coming back to them. Linen Lovers has a growing membership base however there are many more customers that they can sign up to the program.
Another focus this year for Adairs is to increase it’s product range. To achieve this they will not only increase where possible, the size of their existing stores but they will also open new, bigger stores.
To take advantage of an Adairs sale, shop online at Adairs and use an Adairs discount code and save.