Temple & Webster shares plunge as DIY ambition trimmed
Online homeware and furniture retailer Temple & Webster had $164 million slashed from its sharemarket capitalisation after it revealed the number of active customers using the site dropped by 11 per cent and group sales fell 7 per cent in the first five weeks of trading this year.
As tougher economic conditions arrive, the company is also cutting back investment in its new The Build online site, which is chasing customers in DIY hardware after being launched in mid-2022.
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