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Nick Scali upgrades profit as retailers end 2020 on a high

The NSW coronavirus outbreaks did little to dampen a strong end to the year for retailers, which reported strong foot traffic for the Boxing Day sales everywhere but the Sydney CBD.

Consumer sentiment was so strong in the final two months of the year, furniture seller Nick Scali announced a surprise profit upgrade on Tuesday, sending its share price rocketing to an all-time high.

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James Fernyhough writes about telecommunications, insurance and financial services. He's based in the AFR's Melbourne office. Connect with James on Twitter. Email James at james.fernyhough@afr.com.au

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    Original URL: https://www.afr.com/companies/retail/nick-scali-upgrades-profit-as-retailers-end-2020-on-a-high-20210105-p56rv8