Baby Bunting banks on new store openings, cost reduction measures to boost profit in FY24

Tue 01 Aug 23, 11:59 AM | Team Kalkine

Image source: Mr Adi@Shutterstock

Highlights

Baby Bunting is an Australian specialty retailer of baby products that caters to parents-to-be and parents with children from newborne to three years of age

In the financial year 2024, the company targets to open five new stores in Australia and New Zealand

AustralianSuper and Bennelong Australian Equity Partners Pty. Ltd. have the highest stake in BBN with a shareholding of ~13.13% and ~9.11%, respectively

Baby Bunting Group Limited (ASX: BBN) is an Australian baby product retailer that offers products to parents-to-be and parents of children from newborns up to three years. The company has a presence across New Zealand and Australia.

During the first half of 2023 (1HFY23), BBN’s store count increased to 69, compared to 64 stores in 1HFY22. While in FY23, seven new stores were opened. The opening of new stores assisted in revenue growth to the tune of 1.68% to AUD 515.80 million during the reported period.

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