Soaring online sales drive rise in Dusk’s net income
Dusk’s revenue climbed 12.3 per cent to $87.4 million in the second half, underpinned by a strong online performance.
The home fragrance products retailer booked attributable net income of $9.5 million, up 18.6 per cent year-on-year as product sales jumped 12.6 per cent to $85.6 million and income from its loyalty program membership crept up 0.7 per cent to $1.77 million. Gross margin improved to 65.1 per cent.
By channel, physical store revenue grew 9.2 per cent to $80.5 million, while online sales surged 68.1 per cent to $6.9 million.
“The online sales result has been one of the highlights of the overall business performance, being driven by elevated content, digital marketing and the capabilities of our new site,” said Vlad Yakubson, Dusk Group CEO and MD.
“The new leadership team, along with talent renewal across the broader business, have added significant value to the business, which is evident in the results to date.”
In a trading update, the company said it achieved a 3.7 per cent increase in sales in the first eight weeks of the second half.
Dusk said it would continue to expand its bath and body category during this period and plans to open one store and close two by the end of the fiscal year.
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