There has been plenty of activity of the All Ordinaries (ASX:XAO) index on Wednesday.
For example, two All Ordinaries shares that are making big moves in opposite directions are listed below. Here's what's going on:
Temple & Webster Group Ltd (ASX: TPW)
This online furniture retailer's shares are lighting up the All Ordinaries index on Wednesday following the release of a trading update. At the time of writing, the Temple & Webster share price is up 8.5% to $4.10.
The company's update revealed an improvement in its sales performance, with trading in the last four weeks up 10% over the prior corresponding period.
This means that sales are now down 5% over the prior corresponding period for the period 1 Jan to 15 May, which is an improvement on its 7% decline for the first five weeks of the second half.
Another positive is that management has reiterated its full-year EBITDA margin guidance of 3% to 5%. It also continues to have an exceptionally strong balance sheet, with no debt and cash levels remaining at $100 million.
Best & Less Group Holdings Ltd (ASX: BST)
Wednesday hasn't started as positively for this All Ordinaries share. The discount retailer's shares are down 4% in early trade to $1.87. Investors have been hitting the sell button after the retailer released a trading update which included a profit guidance downgrade.
According to the release, for the 19 weeks of trading to date in the second half, total sales were up 1.8% on the prior corresponding period to $221.9 million.
And while recent trading in May has been encouraging, based on results to date, the company now expects to deliver pro forma net profit after tax of between $10 million and $12 million for the second half. This is down from its previous guidance of between $18 million and $20 million.
