MADE revises down revenue forecast amid ‘significant’ supply chain struggles
Home retailer MADE has revised down its revenue guidance as it battles the “significant” supply chain disruptions that have hit most industries.
It has also warned investors of a potential £12m to £15m loss in adjusted earnings, which it expects to recover next year.
The news prompted shareholders to pile out of the stock, leaving its share price down more than 14.8 per cent at 114.4p per share.
MADE, which debuted on the London Stock Exchange earlier this year with its £755m IPO, had initially told shareholders that its adjusted earnings would be in the green.
While shareholders had also been hoping for a revenue around £410m, though are now anticipating a turnover of between £365m and £375m.
The home retailer has, however, maintained its guidance on gross sales, which it has forecast to grow 40 per cent year on year.
“MADE has continued to deliver significant progress on its key strategic priorities as set out at the time of the IPO,” it said in a regulatory filing today.
“On supply chain, the group has built stock positions to deliver significantly better lead times to consumers for 2022 and beyond as orders placed with suppliers are now in or close to our warehouses.”
The London-listed retailer added that its supply of goods from Vietnam had recovered and that all of its key suppliers are back in operation.