Recently, Australian home furnishings and online furniture retailer Adairs announced its annual results report for the 12 months ended June 30, 2021.

The financial report revealed that Adairs' annual sales increased by 28.5%, reaching US$500 million. In terms of income, it has almost doubled, a substantial increase to 110 million U.S. dollars from 55.3 million U.S. dollars last year. As of the closing day, Adairs' stock price rose 2.17% to $3.77 per share.

Compared to the 2020 fiscal year, Adairs is on thin ice in terms of operating the company in the 2021 fiscal year. During the epidemic, Adairs offline stores were closed for one-third of all trading days. In particular, stores in the Melbourne area (accounting for 25% of the company' s national sales network) will be closed for 99 days in fiscal 2021.

In addition, the Australian government will implement unprecedented fiscal stimulus measures and increase spending on various services in 2020. To a certain extent, it eased the operating pressure of the Australian home furnishing industry. However, with the gradual popularization of vaccines and the clarification of economic development, the government will reduce its support for the home furnishing industry in 2021.

Despite this, Adairs' annual sales and profitability reached record highs, setting a company' s historical record. The company' s director Mark Ronan pointed out that the omni-channel sales model, unique and innovative products and a strong sales team are the reasons for Adairs' gratifying performance.

"The performance of the 2021 fiscal year confirms the strength of our home furnishing brand and the competitive advantages of our omni-channel sales model in this ever-changing environment, and the continued growth of sales from online channels has a long-term impact on the company’s business. " Mark Ronan said.

In addition, Adairs recently acquired Mocka, an online furniture retailer in Australia and New Zealand. The sub-brand achieved sales of US$60.2 million in fiscal 2021. Director Mark Ronan emphasized that as the company continues to expand the Mocka business and realize its full potential, we can expand our market share by providing customers with differentiated and value-for-money fashion home furnishing products.