Shaver Shop sales look sharp

SHAVER Shop has emerged as one of the big winners from lockdowns with people still keen to look their best on video calls, driving strong demand for the retailer’s range of clippers, shavers and personal care products.

Shaver Shop said trends underpinning its growth during the pandemic included the increasing use of social media, enhancing people’s desire to look and feel good. Also helping were the continuing trend towards DIY personal care and the increasing acceptance of online shopping.

And more men are working on their stylings. Shaver Shop has seen a jump of 12 per cent in male grooming products in the past year, with the body grooming subcategory growing by 22 per cent and beard trimmers up by 13 per cent.

The demand for its personal care products, both at its stores and online, helped Shaver Shop lift its full-year profit by 68.3 per cent to $17.47m and almost double its final dividend to 5 cents per share, payable on September 23.

Revenue for fiscal 2021 lifted 9.6 per cent to $213.677m with the retailer’s active online customers up around 120 per cent to 490,000 at the end of June.