0155 GMT - Nick Scali's freight issues look unlikely to be material for the Australian furniture retailer, analysts at Jarden write in a note. They add that A$18.6 million worth of products are being held up by freight delays, but only a small proportion of this is at risk of spilling over into 2H from 1H. They see some one-off costs related to China's dock storage costs, but note that these should not impact Nick Scali's underlying net profit. Jarden reiterates its buy rating on Nick Scali shares and keeps a target price of A$15.88 on the stock. Shares are up 0.7% at A$13.94. (stuart.condie@wsj.com)
(END) Dow Jones Newswires
November 20, 2024 20:55 ET (01:55 GMT)
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