Nick Scali Limited Reports Same Store Traffic Results for the Year to Date Oct. 29, 2019; Provides Financial Guidance for the Half-Year Ending 31 January 2019; Plans to Open Four Stores in Financial Year 2020
October 28, 2019 at 09:03 pm EDT
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Nick Scali Limited reported same store traffic results for the year to date Oct. 29, 2019. Looking at the current financial year to date, same store sales orders growth has been negative, and as the company announced earlier this month, the difficult trading conditions of the latter months 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 around 8%.
The company currently expects that NPAT for the half-year ending 31 January 2019 will be in the range of $17-19 million compared to $25 million for the corresponding period in fiscal 2019.
The group is well placed to continue the expansion of the store network in the current financial year, with four stores expected to open in financial year 2020.
Nick Scali Limited is a furniture retailer operating in Australia and New Zealand. The Company is engaged in the sourcing and retailing of household furniture and related accessories. Its sofas and armchairs collection include recliner sofa collections, leather sofa collections, fabric sofa collections, occasional armchairs, and others. Its living room collections include TV and entertainment units, coffee tables, side tables, console and hallway tables, and others. Its dining room collections include dining tables, dining chairs, and buffet tables and sideboards. Its bedroom collections include mattresses, bedframes, bedside tables, and dressers, among others. Its rugs and accessories collections include rugs and mirrors. It imports more than 5,000 containers of leather and fabric lounges as well as dining room and occasional furniture. The Company has stores located in New South Wales, Queensland, Victoria, Tasmania, South Australia, Western Australia, and others.
Nick Scali Limited Reports Same Store Traffic Results for the Year to Date Oct. 29, 2019; Provides Financial Guidance for the Half-Year Ending 31 January 2019; Plans to Open Four Stores in Financial Year 2020
NICK SCALI LIMITED 
