BUZZ-Australia's Temple & Webster faces worst day in more than nine years on slow revenue growth

Reuters
11/26
BUZZ-Australia's Temple & Webster faces worst day in more than nine years on slow revenue growth

** Shares of Temple & Webster TPW.AX fall as much as 32.9% to A$13.71 in early trade, posting their largest intraday pct drop since late April 2016

** Stock hits its lowest level since February 5, among top losers on the broader benchmark .AXJO, which is trading up 1.1%

** Online homeware retailer logs 18% revenue growth for the July 1-November 20 period, slower than the 28% growth recorded for the July 1-August 11 period

** Revenue growth below Visible Alpha estimate of 23% growth for 1H26

** Citi says weakening revenue growth consistent with slowdown in web and app traffic brokerage has noted

** However, Citi flags that the pace of slowdown is "surprising" given recent updates from rivals including Nick Scali NCK.AX

** Citi says it's increasingly cautious around the near-term outlook with comparable sales getting harder to cycle for the rest of 1H26

** More than 827,000 shares change hands, 2.4 times the 30-day average

** Stock up 14.2% YTD, including the day's moves

(Reporting by Nikita Maria Jino in Bengaluru)

((Nikita.Jino@thomsonreuters.com;))

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