There has been plenty of activity of the All Ordinaries (ASX:XAO) index on Wednesday.
For example, two All Ordinaries shares that are making big moves in opposite directions are listed below. Hereâs whatâs going on:
Temple & Webster Group Ltd (ASX: TPW)
This online furniture retailerâs shares are lighting up the All Ordinaries index on Wednesday following the release of a trading update. At the time of writing, the Temple & Webster share price is up 8.5% to $4.10.
The companyâs update revealed an improvement in its sales performance, with trading in the last four weeks up 10% over the prior corresponding period.
This means that sales are now down 5% over the prior corresponding period for the period 1 Jan to 15 May, which is an improvement on its 7% decline for the first five weeks of the second half.
Another positive is that management has reiterated its full-year EBITDA margin guidance of 3% to 5%. It also continues to have an exceptionally strong balance sheet, with no debt and cash levels remaining at $100 million.
Best & Less Group Holdings Ltd (ASX: BST)
Wednesday hasnât started as positively for this All Ordinaries share. The discount retailerâs shares are down 4% in early trade to $1.87. Â Investors have been hitting the sell button after the retailer released a trading update which included a profit guidance downgrade.
According to the release, for the 19 weeks of trading to date in the second half, total sales were up 1.8% on the prior corresponding period to $221.9 million.
And while recent trading in May has been encouraging, based on results to date, the company now expects to deliver pro forma net profit after tax of between $10 million and $12 million for the second half. This is down from its previous guidance of between $18 million and $20 million.
The post 2 ASX All Ordinaries shares making big moves on trading updates appeared first on The Motley Fool Australia.
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Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended Temple & Webster Group. The Motley Fool Australia has recommended Temple & Webster Group. 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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