Australia's Adore Beauty falls as new 3-year strategy fails to impress investors

Adore Beauty

22/11/2024 02:26

** Adore Beauty  ABY.AX  falls as much as 4.7% to A$0.968;
set to snap four straight sessions of gains
    ** Stock set for worst intraday loss in a week
    ** Beauty focussed e-commerce website tables fresh
three-year strategy at its annual general meeting
    ** Investors unimpressed with new CEO Sacha Laing's
"omni-channel strategy" targeting 25-plus store operations by
2027
    ** New strategies by discretionary retailers in Australia
have not been able to appease investors recently as continued
sticky inflation and rising cost of living continue to pressure
customer
    ** ABY down 27.5% this year, as of last close

 (Reporting by Rishav Chatterjee in Bengaluru)
 ((Rishav.Chatterjee@thomsonreuters.com;))