Why the Adairs Ltd share price has sky rocketed up 16% today

Shares in Adairs Ltd (ASX: ADH) went absolutely gangbusters today.

It was up a ridiculous 16% at the time of writing after the company announced a further upgrade to its FY 18 guidance. The company stated that it has delivered year-to-date like-for-like sales growth of 16% with online sales up 99%.

The company also expects gross margins of 60% – 61% and EBIT of $44 million – $46.5 million.

Adairs has been tipped by top broker UBS as one of the best value small cap stocks out there and its well on its way to out performing other retailers Harvey Norman Holdings Limited (ASX: HVN), JB Hi-Fi Limited (ASX: JBH) and Nick Scali Limited (ASX: NCK). 

I agree with UBS, I’d rather have my money in a nimble high growth small cap like Adairs but even better, I’d love to have my money invested in these three revolutionary stocks.

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Motley Fool contributor Kevin Gandiya has no position in any of the stocks mentioned.

You can follow Kevin on Twitter @KevinGandiya.

The Motley Fool Australia has no position in any of the stocks mentioned. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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