BUZZ-Australia's Adore Beauty falls as new 3-year strategy fails to impress investors

Reuters

2024/11/22

** Adore Beauty falls as much as 4.7% to A$0.968; set to snap four straight sessions of gains

** Stock set for worst intraday loss in a week

** Beauty focussed e-commerce website tables fresh three-year strategy at its annual general meeting

** Investors unimpressed with new CEO Sacha Laing's "omni-channel strategy" targeting 25-plus store operations by 2027

** New strategies by discretionary retailers in Australia have not been able to appease investors recently as continued sticky inflation and rising cost of living continue to pressure customer

** ABY down 27.5% this year, as of last close

(Reporting by Rishav Chatterjee in Bengaluru)

((Rishav.Chatterjee@thomsonreuters.com;))

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