BUZZ-Australia's Nick Scali hits over 4-month low on delivery delays

Reuters
2024-11-20

** Shares of Nick Scali fall as much as 2.7% to A$13.700, their lowest since July 12

** Furniture retailer says one of its freight forwarders is facing operational issues and is now under the administration of a liquidator

** Co says port delays, disrupting product delivery in Australia, along with unexpected costs, pose risks to its projected NPAT for Australia and New Zealand in 1H FY25

** Says it has obtained court orders for the release of containers and is now working to deliver goods

** Stock posts its biggest intraday pct fall since Oct. 22

** Stock up 13.6% YTD, including current session moves

(Reporting by Kumar Tanishk in Bengaluru)

((Tanishk.Kumar@thomsonreuters.com;))

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