Nick Scali shares have plummeted more than 15 per cent after it reported a dive in sales at its furniture outlets over the last three months.
“Monthly store traffic has been down 10-15 per cent in this period and has had a significant impact on like-for-like store sales, which are currently down 8 per cent year-to-date compared with the previous year,” the company said in a trading update to the ASX on Tuesday.
The furniture seller blamed a “cautious consumer attitude” amid falling property prices as it issued a profit guidance of $17 million to 19 million for six months to December 31, down from $25 million in the previous corresponding period.
AAP
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