With the goal of making the world more beautiful, one room at a time, Temple & Webster’s Q3 results brings the brand one step closer to achieving its vision.
Furniture and homewares retailer, Temple & Webster has reported its first 12-month period of positive cash flow, as detailed in the company’s FY18 Third Quarter Cash Flow Statement.
The business, which has historically struggled to remain profitable, experienced a 23 percent increase in gross revenue for the third quarter of 2018, with sales up by 20 percent from the previous year.
Temple & Webster’s CEO, Mark Coulter attributes the businesses accelerated growth to the company’s efforts in attracting new and repeat customers.
“This top line growth combined with the significant amount of work performed on the cost base and margins meant that we delivered the first 12month period of positive cash flow in Temple & Webster’s short history,” he said.
In the same 12-month period, the e-commerce business reportedly reduced its losses by 89 percent, from $1.8 million in Q2 to only $200,000.
“Our strategy of being a category specialist, with a clear customer offering built around the largest range of furniture and homewares in the country, combined with the most
inspirational content and the best customer service is working,” Coulter said. “As the market leader in a growing industry, we continue to remain confident that Temple & Webster is the brand Australians will turn to when shopping for their homes and workspaces.”
Temple & Webster has an advertised product listing of 130,000 items available for sale, all of which are sourced from more than 700 suppliers. Through continued sales and marketing efforts, the brand finished the quarter with $9.3 million in cash.
While it’s still too early to tell, Coulter is confident the brand can achieve its first profits in the second half of 2018.
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