Shaver Shop downgrades full-year forecast
Specialty grooming products retailer Shaver Shop expects earnings for its first financial year as a listed company to fall short of its prospectus forecast by as much as 18 per cent.
The retailer says first-half profit rose 9.3 per cent but that full-year EBITDA are likely to be between $12 million and $13.5 million, compared to its prospectus forecast of $14.7 million.
“Despite strong Boxing Day trading, we have found the last two months to be challenging with unprecedented same store sales volatility in recent weeks,” chief executive Cameron Fox said.
Online sales were $6.6 million in the first half of 2017, accounting for seven per cent of total network sales.
The retailer launched a new omnichannel-focused e-commerce platform on 9 February, 2017, and says early signs from the website have been encouraging.
Close to 60 per cent of Shaver Shop’s web traffic comes through mobile, and the new platform targets these shoppers with an improved user interface.
Integration with Shaver Shop’s POS and order management system and customer data capture are meant to drive ominchannel sales going forward.
The retailer said it will further refine its targeted campaigns and loyalty program going forward.