The retailer will buy back up to $10 million in shares, saying same-store sales growth this year is positive after tough 2022.
The Reject Shop says it will buy back up to $10 million of its shares, saying same-store sales growth is positive this year after tough 2022 which was punctured by store closures and lockdowns.
The Reject Shop has a new boss, Phil Bishop, who previously worked in executive positions at Bunnings and Officeworks. Earnings before interest and tax were also lower, falling 17.2 per cent to $15.4 million, pushing its bottom line down 24.2 per cent to $6.3 million, when taking out the extra week.The company said sales have been steadily improving since March as the impact of COVID-19 on customer behaviour appears to be diminishing.No specific profit guidance was provided for fiscal 2023.