Business
Why the Temple & Webster (ASX:TPW) share price is sinking 5% lower today
In morning trade on Tuesday, the Temple & Webster Group Ltd (ASX: TPW) share price is sinking lower.
At the time writing, the online furniture and homewares retailer’s shares are down 5% to $10.44.
Why is the Temple & Webster share price sinking lower?
Investors have been buying Temple & Webster shares following the release of its half year results this morning.
According to the release, the company delivered a 118% increase in revenue over the prior corresponding period to $161.6 million.
This was driven by the doubling of its active customers from 335,000 to 678,000 and a 6% increase in the average spend per active customer to $401.
And thanks to operating leverage, Temple & Webster’s earnings grew even quicker. Management…
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