Can Temple & Webster beat yearly earnings in just three months?

31 August 2020, Written by Matt Ogg

Can Temple & Webster beat yearly earnings in just three months?

After delivering on its expected five-fold rise in earnings for FY20 to $8.5 million, online furniture retailer Temple & Webster (ASX: TPW) has reported staggering sales and profit figures for July and August.

The Sydney-based company estimates an EBITDA of $6 million for FY21 thus far, meaning its current monthly earnings are double its previous annual earnings.

Revenue growth has been riding at 161 per cent year-on-year and its net promoter score (NPS) with customers remains above 65 per cent.

To keep up momentum as new customers turn to the e-commerce platform, Temple & Webster will also run its second national TV campaign at the end of this quarter.

"I want to reiterate the great job the Temple & Webster team have done in stepping up to keep looking after our customers during this challenging period," says CEO and co-founder Mark Coulter (pictured).

"As you can see from our trading update, Australians are still turning to the online channel to meet their ongoing needs."

He says the group is focused on customer satisfaction to ensure those who are trialling online shopping for the first time become repeat customers.

"In July we crossed the magical milestone of 500,000 active customers. That's half a million Australian homes which now have something from Temple & Webster in them, which as a cofounder makes me very proud," says Coulter.

"Our strategy of being a category specialist, with a clear customer offering built around the biggest and best range of furniture and homewares in the country, combined with the most inspirational content and services and a great delivery experience and customer service, is working.

"The advantages of being the online market leader are apparent as we continue to grow our market share."

TPW shares were up 7.8 per cent at $8.85 at 10:09am AEST. 

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Business News Australia

Author: Matt Ogg





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