First Take: Sales Slow Significantly, Pivoting to Profitability Focus

Temple & Webster has lowered its sales guidance following a significant slowdown to a 2.5% decline since February, pivoting its focus toward margin preservation and profitability.

Key Takeaways

• 1.Temple & Webster experienced a significant sales slowdown to a ~2.5% decline between February and June, compared to 20% growth previously.
• 2.The company has pivoted its strategy to focus on profitability and margins in response to the slowdown.
• 3.FY26 EBITDA guidance of A$20-22m is roughly 18% below market consensus.

Table of Contents

• Key Points
• Price Target Risks and Methodology - Temple & Webster Group
• Disclosure Appendix
• GS Factor Profile
• M&A Rank
• Quantum
• Disclosures
• Company-specific regulatory disclosures
• Distribution of ratings/investment banking relationships
• Price target and rating history chart(s)
• Target price history table(s)
• Regulatory disclosures

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