Retailer Baby Bunting is the latest brand to highlight incredibly tough sales conditions in the lead-up to the end of financial year, confirming the collapse of two other baby goods providers this year has had an impact on its sales.
In May the brand warned shareholders that things may not pan out as expected this year after competitors Baby Bounce and Baby Savings collapsed into voluntary administration, sparking fire sales of baby goods across the country.
This morning, the company informed the ASX that while it had previously anticipated it would book around $23 million in earnings in the 2018 financial year, this was now expected to be between $18 and $20 million.
The companys chief executive Matt Spencer said that the marke…
Read the full article at: https://www.smartcompany.com.au/industries/retail/baby-bunting-says-tough-conditions-and-collapses-will-hit-sales/