In This Article:
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Total Sales: $126.7 million, down 7.9% on PCP.
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Like-for-Like Sales: Down 12.1% on PCP.
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Gross Profit: $81.5 million, down 7.5%.
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Gross Profit Percentage: 64.3%, up 20 basis points on PCP.
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Pro Forma EBIT: $6.2 million, compared to $16.5 million in FY23.
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Inventory: $15.5 million, slightly up on PCP.
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Net Cash Flows: $20.8 million, compared to $16 million at the end of FY23.
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Dividend: Total dividends for FY24 at $0.065 per share.
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Store Count: 149 stores, up from 145 at the end of FY23.
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Online Sales: $7.2 million, down 3.4% on PCP.
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Online Sales Penetration: 5.7% in FY24, 6.4% in the second half.
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Active Members: 674,000 at the end of FY24, with member sales representing 57% of total sales.
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Average Transaction Value (ATV): $56 for members, $44 for non-members.
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Cost of Doing Business (CODB): $71.4 million, up 5.4% on PCP.
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Closing Cash: $20.8 million, up $4.8 million on PCP, with no debt.
Release Date: August 29, 2024
For the complete transcript of the earnings call, please refer to the full earnings call transcript.
Positive Points
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Dusk Group Ltd (ASX:DSK) reported a strong start to FY25 with total sales for the first eight weeks 16% higher on PCP and 12.1% on a like-for-like basis.
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The company has successfully implemented strategic initiatives such as product rejuvenation and disciplined promotional activity, leading to improved sales performance in the second half of FY24.
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Dusk Group Ltd (ASX:DSK) maintained a strong financial position with closing cash of $20.8 million and no debt.
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The company has launched a website upgrade and a new approach to digital marketing, enhancing the omni-channel experience.
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Dusk Group Ltd (ASX:DSK) plans to increase customer frequency and new customer acquisition by expanding into new product categories and leveraging social media and digital marketing channels.
Negative Points
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Total sales for FY24 were $126.7 million, down 7.9% from the prior corresponding period.
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Like-for-like sales declined by 12.1% in FY24, with stores down 12.6% and online down 3.4%.
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Pro forma EBIT decreased significantly to $6.2 million from $16.5 million in FY23.
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The cost of doing business increased by 5.4% on PCP, driven by new store openings and significant regulatory wage increases.
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Membership sales declined by 8% due to an increase in membership fees, which was later reverted.
Q & A Highlights
Q: The turnaround in sales in the fourth quarter and year-to-date, is it due to internal efforts or macro improvements? A: Vladislav Yakubson, CEO: The improvement is largely due to internal efforts, focusing on product rejuvenation and online channel optimization. The macro environment remains challenging, but our strategies have led to positive sales growth.