The Reject Shop has been delivering value to shoppers for 40 years. The Reject Shop helps all Australians save money everyday by offering products frequently used and replenished such as food, snacks, greeting cards, party, health and beauty, cleaning supplies, storage, kitchenware, homewares, pet care and seasonal products at low prices in 361* convenient store locations across Australia.
* As at 19 August 2021
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Results Overview
NPAT (post AASB 16) of $8.3 million, up 643% on the prior corresponding period (pcp)
NPAT (pre AASB 16)1,2 of $6.4 million, up 134% on pcp
EBIT (post AASB 16) of $18.6 million, up 99% on pcp
EBIT (pre AASB 16)1,2 of $9.4 million, up 110% on pcp
CODB (pre AASB 16)1,2 margin of 37.3%, improvement of 84bps on pcp, notwithstanding a reduction in sales on the pcp
Sales of $778.7 million, down 5.1% on pcp
Comparable store sales were down 5.0% on pcp
Strong balance sheet with cash of $73.0 million and no drawn debt (net cash position of $92.5 million at Jun-20 and $6.8 million at Jun-19)
No dividend has been declared in FY21
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FY21 Pre AASB 16 results have not been reviewed by the Company's auditors.
FY21 Pre AASB 16 occupancy costs in EBIT, CODB and NPAT have been estimated using cash occupancy costs. Refer to Appendix for a reconciliation of FY21 Statutory and Pre AASB 16 results
Financial Overview
Statutory1
Pre AASB161,2
Variance
Variance
$m
FY21
FY20
F/(U)
FY21
FY20
F/(U)
Sales
778.7
820.6
(5.1)%
778.7
820.6
(5.1)%
Comp. Sales
(5.0)%
3.5%
(5.0)%
3.5%
Gross Profit
321.1
342.4
(6.2)%
313.5
335.8
(6.7)%
CODB3
(192.6)
(219.8)
12.4%
(290.3)
(312.9)
7.2%
EBITDA
128.5
122.7
4.7%
23.1
23.0
0.7%
Depreciation
(109.9)
(113.4)
3.0%
(13.7)
(18.5)
25.8%
EBIT
18.6
9.3
99.1%
9.4
4.5
110%
Interest
(6.4)
(7.7)
16.6%
(0.1)
(0.5)
88.0%
Profit Before Tax
12.1
1.6
646%
9.4
3.9
138%
Tax
(3.8)
(0.5)
(655)%
(2.9)
(1.2)
(146)%
Net Profit After Tax
8.3
1.1
643%
6.4
2.7
134%
(1)
Comp. Sales, Gross Profit, EBITDA, EBIT and Interest are non-IFRS measures and have not been reviewed by the Company's auditors.
(2)
FY21 Pre AASB 16 results have not been reviewed by the Company's auditors. FY21 Pre AASB 16 occupancy costs (included in CODB) have been estimated using cash occupancy costs. Refer to Appendix for a reconciliation of Statutory and Pre AASB 16 results.
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(3)
CODB in FY20 (pcp) included a charge for impairment of store assets of c.$0.7 million.
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The Reject Shop Limited published this content on 19 August 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 18 August 2021 22:33:03 UTC.
The Reject Shop Limited is an Australia-based company, which is engaged in retailing of discount variety merchandise. The Company specializes in in curating furniture items that are on surplus clearance and factory rejects due to minor cosmetic defects. It sells a range of furniture items that are brand new but have been rejected due to minor defects or damages during the manufacturing process. These items are sold at a lower price compared to similar products available in the market. Its product categories include dining room, living room, bedroom, outdoor, delivery options, office, luxury goods, homeware and appliance, home decor, electronics, and lighting. Its dining room products include HOVE Oval Dining Table in WALNUT, LORRAINE Outdoor Table in GREY, CHUNGHA Carrara Marble Dining Table with WALNUT Frame, BINNA Dining Table in OAK, and DALMASSE Small V-Frame Square Dining Table in NATURAL. Its luxury products include Louis Vuitton Handbag Preloved and TODS Handbag Preloved.
THE REJECT SHOP LIMITED 
