Exceeds previous profit guidance.
Sales at Shaver Shop for the half year ending 31 December, 2016 were $78.5 million compared to $62.2 million in the prior corresponding period. Total corporate retail sales in December were $27.8 million, compared to recent guidance of $26 million to $28 million.
Like for like sales growth over the first half dropped 0.5% impacted significantly by lower sales of hair styling products over the Christmas trading period.
Despite this, sales of long term hair removal, female beauty and male electric shavers, were strong on the back of new product releases and category expansion initiatives.
In December, Shaver Shop warned investors that sales for the half year were expected to be lower than previously anticipated due to weaker sales in key gift giving product lines and the closure of its Queensgate store in New Zealand, following the recent earthquake.