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Adairs’ Online Sales Up 99 Percent

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By Published On: April 20, 20180 Comments

After updating its business model late last year, Adairs' new omnichannel approach to retail has resulted in significant sales increases in the first, second, and third quarter of FY18.

Specialty home furnishings retailer, Adairs continues to experience better than usual third quarter results, as the company reports a 16 percent growth in sales year on year. However, the brand’s online sales arm is performing well above expectations with a year to date growth of 99 percent. Adairs’ e-commerce platform now contributes 12.8 percent of the businesses total sales.

In the second FY18 guidance statement that’s been released to investors in a matter of months, Adairs’ CEO, Mark Ronan attributed the continued growth to “continued higher sales performance” and “confidence in the momentum we carry into the remainder of the financial year.”

The company expects its earnings for fiscal 18 to reach approximately $44-46.5 million, which was up from the $40-44 million that was reported back in February.

“Our current trajectory will see us deliver an FY18 result that sets new records in sales and earnings for the company. Our FY18 result will be underpinned by a significant rebound in performance, the capacity of our strategy to grow market share profitability, and the effectiveness of our omnichannel strategy,” Ronan said.

Investors are also confident that the FY18 result will provide a solid platform for continued growth in the next financial year.

These positive sales results come after a growth of 14.8 percent in Q1 and Q2, which is believed to be a result of changes that were implemented in 2017.

“We continue to achieve strong sales growth from investments in an improved omnichannel customer experience and our customer loyalty program. Further, our focus on broadening our product offering, particularly in our larger format stores, has also been effective.”

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