Business
Adairs shares soar after strong subsidy-boosted result – Sydney Morning Herald
Homewares retailer Adairs has reported a huge jump in sales and profit for the 2020 financial year, in part thanks to a significant stimulus from JobKeeper.
Excluding the direct benefit from the subsidy, profit would have only increased marginally, but chief executive Mark Ronan said the company would have posted a record result even without the wage subsidies.
However, Mr Ronan admitted Adairs’ result would not have been anywhere near as strong if not for the broader economic benefits induced by the $85 billion subsidy.
“There’s no doubt that JobKeeper and wage subsidies in New Zealand enabled customers and consumers to continue to spend on retai…
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