Shaver Shop Group Ltd.’s Bounce back in sales led to rise in FY17 guidance
Bounce back in sales led to rise in FY17 guidance:Shaver Shop Group Ltd.’s (ASX: SSG)stock moved up 15% on April 20, 2017. Following a weak start in the months of January and February, Shaver Shop’s sales rebounded strongly in March leading to positive total same store sales growth for Q3 FY17. For 9M FY17, sales grew by 1.3% yoy. Further, the company revised the earlier guidance of $12.0 – $13.5 million for EBITDA and now expects to report $13.7 million – $15.0 million for FY17 driven by significantly improved sales performance during the end of Q3 FY17. A substantial portion of the recent sales uplift relates to customers buying selected products in stores for resale to consumers in Asian markets. Further, SSG entered into a binding agreement to acquire the Bondi Junction and McCarthur Square franchises.It will add up two further quality sites to Shaver Shop’s corporate store network in NSW as the acquiring stores have been strong performers for many years.
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