Shaver Shop sees sales rise, buys back stores
The Australian and New Zealand specialty retailer Shaver Shop has reported a boost to sales in March leading to positive total same store sales growth for the 3rd quarter.
On a year to date basis, like for like sales for the nine months ended 31 March 2017 are now up 1.3 per cent.
The grooming retailer now expects its FY17 full year EBITDA to be an improved figure of between $13.7m and $15m.
Consumers purchasing to re-sell in Asian markets is accounting for a large portion of the recent sales uplift, something the board and management are closely monitoring.
Shaver Shop is continuing its franchise buy-backs with a binding agreement to acquire the strong performing stores at Bondi Junction and McCarthur Square. This will bring the number of franchise buy backs in the current financial year to seven.