Noni B Limited (ASX: NBL) issued a trading update today stating that it expected sales and earnings before interest, tax, depreciation and amortisation (EBITDA) growth for the FY 2018 first half ended 31 December 2017.
Here are the key highlights:
- Like-for-like sales for the period grew by 3%;
- Total sales grew to approx. $190 million;
- The Group's store network increased from 614 stores at the start of the period to 642 stores;
- Online sales as a proportion of total sales continued to grow, following continued investment, representing 4.9% of total sales for the half.
The company stated that all figures in this release are still subject to finalisation and review by the company's
auditors.
This is a positive update and investors in retail stocks including Nick Scali Limited (ASX: NCK), JB Hi-Fi Limited (ASX: JBH) and Harvey Norman Holdings Limited (ASX: HVN) will hope that it's a reflection of improved market conditions particularly in light of high consumer debt levels and low wage growth.
