Australia's Adairs hits two-month high on higher sales

Adairs

20/10/2021 04:19

** Shares of Adairs Ltd  ADH.AX  rise as much as 6.8% to
A$4.05, its highest since Aug. 13
    ** Home improvements retail chain says YTD like-for-like
sales are up 8.2% compared to FY21
    ** Says New South Wales (NSW) stores have reopened and are
"trading strongly" as lockdown restrictions ease 
    ** Sees similar trading in Victoria metro stores, expected
to re-open in early Nov. 
    ** Adds ready to "capitalise" during the Christmas period
and sales leading up to it 
    ** More than 2 mln shares have changed hands, 1.6 times
their 30-day avg
    ** Stock marks second consecutive session of gains
    ** Up to Tuesday's close, stock had risen 18.8%, compared
with a 13.1% increase in the ASX All Ordinaries index  .AORD 
    


 (Reporting by Upasana Singh in Bengaluru)
 ((Upasana.Singh@thomsonreuters.com))