One of the biggest movers in the retail sector has been the Adairs Ltd (ASX: ADH) share price.
In afternoon trade the home wares and home furnishings company's shares are up 7% to $1.38. This means Adairs' shares have now gained an impressive 80% in just three months.
Why are it shares higher?
Adairs released its second trading update in as little as five weeks. Thankfully for shareholders it was yet another positive one.
According to the release, the first six weeks of FY 2018 has seen strong trading that builds on the improvement in sales momentum observed in June 2017. This led to like-for-like sales growth of 10.4% in July.
Pleasingly, like-for-like sales growth has been at a similarly high level for the first two weeks of August.
Management believes that the measures taken in the first half of FY 2017 have been successful in repositioning the business for growth once again.
