Shaver Shop Group Limited (ASX:SSG) has reported a modest increase in sales for the first half of the fiscal year. The specialty retailer of personal grooming and beauty products saw sales rise by 2.2 per cent to $128.6 million, supported by strong online performance. Shaver Shop operates 126 stores across Australia and New Zealand, providing a range of personal grooming products. The company focuses on electric shavers, hair clippers, and other beauty-related items.
Gross profit margins at Shaver Shop expanded, leading to a 4.6 per cent increase in gross profit, which totalled $59.8 million for the half-year. This growth was attributed to increased sales of electric shavers, hair clippers, and body groomers under its Transform-U private label brand. However, the retailer reported a net profit growth of just 1.5 per cent, amounting to $12.2 million.
Total sales so far in the current half have gained 3.8 per cent, with same-store sales up by 1.9 per cent. The company noted that gross profit margins are currently flat, reflecting the cycling of the Transform-U launch and an increase in sales of lower-margin products.
The board declared a fully franked interim dividend of 4.8¢ per share, consistent with the previous year’s payout. The dividend is scheduled to be paid on March 19.
