First Kogan.com now Temple and Webster, the other major listed sole online homewares and furniture retailer will look to raise new capital from shareholders to help bolster its digital offering after the surge in sales earlier in the year during depths of the coronavirus lockdown, continued in June.
Temple & Webster is solely online (like another boom-story, Kogan.com) and had already seen a big surge in sales (and positive earnings) before COVID-19 hit and that has continued, at a higher pace. Yesterday the online homewares and furniture retailer said it had nearly doubled its sales during the coronavirus lockdown.
Amid all the downgrades, closures and job losses a good news story from retailing - online furniture and homewares retailer, Temple and Webster has seen its shares surge after reporting a strong result for the half-year period despite those concerns of a weak Christmas period.
Online furniture retailer Temple & Webster continues to edge away from oblivion and towards a first-ever profit. The company yesterday reported a 40% increase in revenue for the six months to December to $49.3 million.