Adore Beauty shares raced to their highest in two months after the online beauty retailer defied the tougher retail environment to stick with its profit margin guidance for this year. Turnover and shoppers both grew in the first quarter.
New chief executive Tamalin Morton said Adore’s active customer cohort (meaning those who have purchased in the past 12 months) returned to growth, increasing 1.5 per cent to 803,000 in the September quarter. Over 2023, active customers fell 8 per cent.
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Carrie LaFrenz is a senior journalist covering retail/consumer goods. She previously covered healthcare/biotech. Carrie has won multiple awards for her journalism including financial journalist of the year from The National Press Club. Connect with Carrie on Twitter. Email Carrie at carrie.lafrenz@afr.com
