Finest & Much less expects revenue drop after weaker buyer demand

Footwear retailer Accent Group and Millers operator Mosaic Manufacturers additionally reported sturdy buying and selling updates on Wednesday.

Accent shares leapt by 10.7 per cent after the corporate mentioned gross sales for the primary 27 weeks of the monetary 12 months have been up by 39 per cent on final 12 months.

Mosaic mentioned group earnings have been anticipated to be round $15.8 million for the primary half of 2023, a rise of 198 per cent on final 12 months. Its shares opened 5.3 per cent stronger to 30 cents.

Different retailers have reported over the previous two weeks that situations are slowing, nevertheless: Child Bunting mentioned its December buying and selling interval was weaker than anticipated, whereas electronics retailer Kogan mentioned gross sales declined by 32.5 per cent for the primary half of the 12 months.

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