Homewares and furniture retailer Adairs has reported a lift in group sales for FY25, with strong performances from its Adairs and Mocka brands, offset by weakness at Focus on Furniture.
For the 52 weeks ending June 29, group revenue reached $618.1 million, led by a 9.5 per cent uplift at Adairs and 14.7 per cent growth at Mocka. But net profit after tax fell 17.9 per cent to $25.7 million, impacted by margin compression and weaker trading at Focus on Furniture.
“We’ve delivered solid top-line growth and strong EBIT results at Adairs and Mocka, while laying the groundwork for future performance improvement at Focus on Furniture,” said MD and group CEO Elle Roseby.
For FY25, the core Adairs brand delivered record sales of $442.2 million, underpinned by the strength of its Linen Lovers loyalty program, which now counts over 1 million members contributing more than 80 per cent of sales. The brand added four new stores and completed several upsizes, ending the year with 168 locations.
Meanwhile, Mocka reported revenue of $57.9 million, with Australian sales up 31 per cent, while sales in New Zealand declined 3 per cent. The brand began testing physical retail formats through wholesale partnerships with big-box retailers and shop-in-shop concepts within Adairs stores in New Zealand, ahead of a planned store rollout in FY26.
Focus on Furniture continued to face headwinds, with delivered sales falling 6.5 per cent to $117.9 million. Product underperformance and promotional activity failed to lift customer traffic or conversions. The shortfall was particularly stark in Victoria, home to more than half of its store network, where sales dropped 11.5 per cent.
Despite the profit decline in FY25, Adairs says the new financial year has begun with strong momentum. Group sales in the first eight weeks of FY26 are up 22.6 per cent year-on-year, including double-digit growth across both Adairs and Mocka.
Store growth also remains a key focus. Adairs plans to open 3-5 new stores in FY26 and continue upgrades across its network. Focus on Furniture is also eyeing 3-5 store openings, while Mocka will make its bricks-and-mortar debut in the second half of the year.
“These early steps are part of a broader transformation program that will position us for sustainable, customer-led growth,” Roseby added.
The group is investing $25-30 million in capital expenditures (capex) in FY26 to support its digital transformation, store rollout, and operational upgrades.
