Homewares retailer Adairs warned on Monday that December half profits would sink to almost half of the previous year because of the combined impact of extended lockdowns in Sydney and Melbourne, and higher staff and warehousing costs in the pandemic.
It triggered a slump in the group’s shares, which closed down 21 per cent to $3.01 in trading on Monday.
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Simon Evans writes on business specialising in retail, manufacturing, beverages, mining and M&A. He is based in Adelaide. Connect with Simon on Twitter. Email Simon at simon.evans@afr.com
