Nick Scali, one of the country’s largest furniture retailers, has warned that its profits are below the market’s expectation, and have been hurt by the rising cost of shipping lounges to the United Kingdom and Australia.
The company’s chief executive, Anthony Scali, said orders for the first four months of the new financial year in Australia and New Zealand were three per cent higher than the same period 12 months ago.
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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
