Nick Scali's (ASX:NCK) AU$18.6 million worth of product delay in China is not expected to have a "material" impact on the company's fiscal 2025 profit outlook, Jarden Research said in a Wednesday note.
The furniture retailer expects a net profit after tax of AU$30 million to AU$33 million for its Australia and New Zealand operations in the first half of fiscal 2025.
In October, the company experienced shipment delays for its products at ports due to a breakdown in relationship with its freight forwarder, who is now under the administration of a liquidator.
Nick Scali anticipates unexpected additional storage and detention costs from these delays that could create "significant risks" to meeting its first-half fiscal 2025 profit guidance for ANZ operations.
Jarden Research expects AU$5 million in sales to shift to the second half of fiscal 2025, potentially reducing first-half net profit guidance by AU$2.2 million.
"Earnings should not be impacted, with additional costs to fall below the line," the investment firm said.
The investment firm reiterated its buy rating on the company and maintained its price target of AU$15.88.
Nick Scali's shares rose nearly 2% in recent Friday trade.
Price (AUD): $13.80, Change: $+0.26, Percent Change: +1.92%
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