Temple & Webster bucks retail downturn, posts 27pc surge in sales
Shares in Temple & Webster soared more than 14 per cent on Wednesday after the online-only furniture retailer said it was bucking a difficult environment and posted a massive increase in sales for the last five months.
The company said sales between July 1 and November 27 had risen 27 per cent compared to the same period last year, with revenues increasing even more strongly from October 1 – up 42 per cent. That sent shares to $7.41, up some 40 per cent in 12 months to give the company a $900 million valuation.
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