BABY BUNTING WARNS OF RISING SHIPPING COSTS
BABY Bunting boss Matt Spencer has warned that supply chain constraints and other issues have ratcheted up the cost of items for the baby goods retailer.
Mr Spencer said the company had worked with suppliers to manage cost changes and strike new efficiencies to counter the blowout in shipping charges and avoid price rises for consumers where possible.
Baby Bunting also provided a trading update, which showed that although same-store sales growth was still negative, it had improved since August despite ongoing lockdowns across NSW, Victoria and the ACT.
Addressing shareholders at the retailer’s annual general meeting on Tuesday, Mr Spencer mirrored comments made recently by other Australian retailers which have faced steeper shipping costs this year caused by disruptions to the global supply chain caused by the pandemic.
Mr Spencer also said online sales continued to grow strongly, up nearly 38 per cent year-to-date. The retailer plans to open six to eight new stores in Australia this financial year.