- Early childhood retailer Baby Bunting saw profits jump 58.2 per cent and sales increase 19 per cent during the 2019 financial year
- Going forward the company will focus on its online presence and private and exclusive brands
- Baby Bunting’s share price increased 11.11 per cent today, currently sitting at $2.70 apiece at Friday’s market close
Early childhood retailer Baby Bunting saw profits and sales rise during the 2019 financial year.
Sales were up 19 per cent, totalling $362.3 million and profits after tax reached $15.1 million, a 58.2 per cent increase from the previous year.
Earnings before interest, tax, depreciation and amortisation also saw an increase of 45.9 per cent, bringing it to $27.1 million.
Going forward Baby Bunting aims to capitalise on its online presence. During the financial year online sales grew 46 per cent and account for 11.8 per cent of total sales.
Over the year the company opened six new stores and another two are set to open in the first half of the 2020 financial year.
The company is investing in new in-store technology which is designed to improve customer experience.
A push towards driving sales in its private and exclusive range is also a priority. Private and exclusive sales grew 57 per cent during the financial year, making up 27.6 per cent of total sales.
Shareholders will receive a final dividend of $0.051 per share.
Baby Bunting’s share price increased 11.11 per cent today, currently sitting at $2.70 apiece at Friday’s market close.