Online revenue up by 46 per cent in wake of pandemic.

 

Fashion stationery chain Smiggle has rebounded from pandemic-driven revenue declines in overseas markets to record better-than-expected sales in Australia and New Zealand.

 

Locally in A/NZ, like-for-like first half sales increased by 4.7 per cent and 9.2 per cent respectively. In the two-week back-to-school period after the summer holidays, comparable sales grew by 39.1 per cent in Australia and 27 per cent in New Zealand.

 

In the six months to the end of January 2021, Smiggle’s sales across all its regions were hit by government-mandated closures of schools and retail stores. 

 

As a result, revenue fell by 26.5 per cent year on year to $142.4 million.