Temple & Webster defies the COVID-era crush
Jumping by 10% on Tuesday on the back of strong first half years, online home retailer Temple & Webster is on a mission to prove its more than a pandemic play.
Temple & Webster went gangbusters during the pandemic but it is in the last 12 months that the online furniture and homewares retailer has really asserted itself, as the stock again approaches record highs.
Releasing its first-half results on Tuesday, the company beat market expectations to deliver 23% revenue growth, with its share price jumping 10% to its highest levels since late 2021.
CEO Mark Coulter, who co-founded the brand in 2011, said investors have rewarded it for getting the fundamentals right as it looks to capture an even bigger slice of the online retail market.
“We had a year of reset [after Covid] but we’ve gotten back to our long-term trajectory,” Coulter told Capital Brief.
