The Adore Beauty Group Ltd (ASX: ABY) share price has jumped higher in today’s trading. It’s currently up by 10% at $1.43 a share.
Adore Beauty shares have seen plenty of volatility in 2022. Indeed, today’s gain is undoing some of the damage the company has experienced over the past month. Even with today’s rise, the Adore Beauty share price is still down 21% over that time.
What’s going on with the Adore Beauty share price?
In a broader sense, there is much market attention on the pace of inflation and how strongly central banks will need to react with interest rates to bring things back under control.
Less than a month ago, the business announced its quarterly update for the three months to 31 March 2022. It said that revenue rose by 9% year on year to $42.7 million. The number of active customers increased by 7% to 880,000. Returning customers grew by 47%.
Despite all of the investor pessimism, Adore Beauty continues to deliver on its strategic initiatives.
In the third quarter of FY22, its mobile app accounted for more than 10% of revenue. The company also said its loyalty program is scaling “strongly”, with loyalty members contributing more than 60% of revenue. It also said that it’s on track to launch a private label in the fourth quarter of FY22.
The post Glowing: The Adore Beauty share price is soaring appeared first on The Motley Fool Australia.
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More reading
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Motley Fool contributor Tristan Harrison has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has recommended Adore Beauty Group Limited. The Motley Fool Australia has recommended Adore Beauty Group Limited. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.
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