Australia's Adore Beauty hits record low on revenue forecast miss

Adore Beauty

06/05/2021 06:48

** Shares of online beauty retailer  ABY.AX  plunge as much
as 19% to A$3.710, hitting their record low 
    ** Adore Beauty says its revenue rose 47% to A$39.4 mln
($30.44 mln) in March quarter and said it was on track to
achieve FY21 revenue growth of 43%-47% vs yr ago
    ** The outlook implies FY21 revenue between A$173 mln and
A$178 mln, falling slightly short of consensus forecasts around
A$188 mln - local media report [https://bit.ly/3bnJg1p
]
    ** Co's active customers at the end of Q3 stand at 687,000,
lower than the 777,000 at Dec-end 
    ** Co, which debuted on the ASX in October 2020, marks its
biggest intraday percentage fall on record
    ** About 788,100 shares changed hands, compared with 30-day
average volume of ~84,300
    ** Stock down 14.9% this year, as of last close 


    ($1 = 1.2942 Australian dollars)

 (Reporting by Vasudha Kaukuntla in Bengaluru)
 ((Vasudha.Kaukuntla@thomsonreuters.com))