Nick Scali Ltd
ASX:NCK
Nick Scali Ltd
Nick Scali Ltd. engages in the retail and importation of household furniture and related accessories. The company is headquartered in North Ryde, New South Wales and currently employs 541 full-time employees. The company went IPO on 2004-05-26. The firm is engaged in the sourcing and retailing of household furniture and related accessories. The firm offers various products, such as lounges, dining tables, dining chairs, buffets and cabinets, coffee tables, television units, armchairs, consoles, bedroom furniture, mattress and base, rugs, mirrors, and pendants and lamps. The firm has a total store network of approximately 61 stores across Australia and New Zealand. The firm has stores located in New South Wales, Queensland, Victoria, Tasmania, South Australia, Western Australia and the Australian Capital Territory (ACT). The company operates a boutique Website, www.nickscalionline.com.au, which features its furnitures.
Nick Scali Ltd. engages in the retail and importation of household furniture and related accessories. The company is headquartered in North Ryde, New South Wales and currently employs 541 full-time employees. The company went IPO on 2004-05-26. The firm is engaged in the sourcing and retailing of household furniture and related accessories. The firm offers various products, such as lounges, dining tables, dining chairs, buffets and cabinets, coffee tables, television units, armchairs, consoles, bedroom furniture, mattress and base, rugs, mirrors, and pendants and lamps. The firm has a total store network of approximately 61 stores across Australia and New Zealand. The firm has stores located in New South Wales, Queensland, Victoria, Tasmania, South Australia, Western Australia and the Australian Capital Territory (ACT). The company operates a boutique Website, www.nickscalionline.com.au, which features its furnitures.
Revenue Growth: Group revenue rose 7% to $269.3 million, with strong gains in Australia and New Zealand (up 13%), though U.K. revenue fell due to store refurbishments.
Profit Jump: Net profit after tax for the group reached $41 million, with the ANZ profit up 29% year-on-year.
Gross Margin Expansion: Group gross margin improved to 65.9%, up 1.5 points from last year; U.K. gross margin jumped to 59.2% from 45.1%.
U.K. Turnaround: Rebranded U.K. stores showed strong like-for-like sales increases (32% in January), but the region still reported a $5.6 million net loss.
Order Bank & Lead Times: Order bank remains steady, with slightly higher gross margins expected for second half; lead times increased by 3 to 4 days.
Cash Flow Strength: Pretax operating cash flow improved to $51.5 million versus $29 million last year; net cash position at $20 million.
Store Network Expansion: 16 U.K. stores now rebranded, with 5 more ANZ store openings planned for the second half.
Guidance & Outlook: January written sales in ANZ were up 3% and like-for-like up 3.2%; no major guidance changes made.
