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Baby Bunting Group Ltd (ASX:BBN) Trading Update Boasts Of 17% Sales Growth

Baby Bunting Group Ltd (ASX:BBN) has given a trading update at its Annual General Meeting (AGM) to say that sales are up 17%.
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Jaz Harrison

Jaz is a Staff Writer for Rask. She is a keen investor who loves to thoroughly poke holes in an investment idea before it has a chance of making it into her portfolio. Jaz invests for the long-term and doesn't sweat the small stuff. She strongly believes that empowering people with knowledge is the best way for them to take charge of their finances, which is exactly the approach she takes with her own money and investments.
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Baby Bunting Group Ltd (ASX: BBN) has given a trading update at its Annual General Meeting (AGM) to say that sales are up 17%.

Baby Bunting is Australia’s largest retailer of baby goods including toys, prams, bottles and cots.

Baby Bunting trading update:

Total sales have increased by 17% compared to the same 20-week period last year. This has been boosted by same store sales growth of 9.6%.

Management said that gross margins are improving and it is on track to exceed 34%. FY19 EBITDA is predicted to be between $25 million to $27 million, excluding employee share expenses (click here to learn what EBITDA means).

Before the integral Christmas retail season, Baby Bunting plans to open another two stores including one at Chadstone Shopping Centre. The shopping centre format is a new one for the retailer.

Once open Baby Bunting will have a total of 52 stores. The company has a long-term goal of 80 stores.

Baby Bunting Chairman Ian Cornell said:

“It is my strong view that from a strategic development point of view, the last twelve months have put the business in a very sound position to achieve further strong market share growth.”

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