Adairs Ltd (ASX: ADH) shares are sliding on Wednesday after the homewares retailer released its latest trading update.

At the time of writing, the Adairs share price is down 4.03% to $1.43.

The fall comes after a better recent run for the ASX retail stock. Adairs shares are still up around 14% over the past month, although they remain down 18% since the start of 2026.

The update had a few moving parts, with growth in parts of the business offset by a weaker result elsewhere.

Here’s what the company told investors.

Weak furniture sales weigh on Adairs

In its trading update, Adairs expects FY26 group sales to land between $640 million and $641.5 million.

At the midpoint, this represents an increase of 3.7% on FY25.

However, group underlying EBIT is expected to come in between $53.5 million and $55.5 million, which would be down 1.3% on FY25.

The main drag is Focus on Furniture, where Adairs now expects to recognise a non-cash impairment of between $62 million and $68 million against goodwill and brand intangible assets.

After the impairment and other significant items, the company expects to report a statutory net loss after tax of around $43 million for FY26.

Focus on Furniture drags

Adairs said its core retail business and Mocka both delivered sales and earnings growth in FY26.

The Adairs division is expected to report sales of about $458.5 million to $459 million, up 3.7%, with underlying EBIT up 14.6%.

Mocka also had a strong year, with sales expected to rise 22.1% and underlying EBIT up 28.1%.

However, the furniture side of the group was much weaker.

Focus on Furniture sales are expected to fall 5.7% to between $111 million and $111.5 million. Underlying EBIT is expected to drop 68.3% to between $3.5 million and $4 million.

Management pointed to heavy competitor discounting, weaker conversion, product underperformance, and execution challenges.

Adairs has brought in new management and is working through changes across the business, including clearing poorly positioned stock and improving operations.

Balance sheet holds up

Adairs said net debt was about $49 million at the end of June, down from $67.6 million a year earlier. It was also well below the company’s $135 million facility limit.

The Focus on Furniture impairment is also non-cash. Adairs said it shouldn’t cause any issues with its lenders, franking account, or ability to pay a dividend.

Still, the update gives shareholders a lot to think about.

The core Adairs business is growing, and Mocka is having a strong run. But Focus on Furniture is bringing down group earnings and now needs a proper turnaround.

Attention now turns to when Adairs will release its FY26 results on 24 August.

The post This ASX retail stock is falling as a $68 million furniture headache bites appeared first on The Motley Fool Australia.

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Motley Fool contributor Aaron Teboneras 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 Adairs. The Motley Fool Australia has positions in and has recommended Adairs. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

Evolution Mining Ltd (ASX: EVN) shares have fallen further into the red today.

At the time of writing, the ASX gold shares have fallen by over 5% to $11.30 each.

The update means Evolution Mining shares have now fallen roughly 11% this week alone, reversing any gains made through late June.

The stock is now down around 11% year to date, but still an impressive 44% higher than this time last year.

What has happened to Evolution Mining shares today?

There isn’t any price-sensitive news out of Evolution Mining today, or earlier this week, to explain the latest sell-off.

It’s likely the latest share price drop is due to broader weakness across the gold sector.

The price of gold has fallen sharply over the past month. At the time of writing, gold is trading around US$4,110 per ounce, down from around US$4,500 in June and significantly below the US$5,300 to US$5,400 range seen earlier this year.

Given that lower gold prices translate directly into lower expected revenue and cash flow for ASX gold miners like Evolution Mining, it has a direct influence on share prices.

At the same time, it’s likely that many investors are taking their profit off the table after the shares climbed higher through June.

Evolution is due to release its June-quarter production and cash-flow results in mid-July. Ahead of major operational updates, it’s not usual for some investors to sell some of their shares in anticipation of the next announcement. This is particularly the case when commodity prices are falling. 

What do brokers tip next for the ASX gold miner?

It looks like the experts are divided about the outlook for Evolution Mining shares over the next 12 months; however, the majority agree there will be some upside ahead.

Market Index data shows the majority of brokers have a hold rating on the gold stock. However, the average target price of $13.82 implies a potential 21% upside over the next 12 months.

TradingView data shows some analysts are a little more bullish. The majority (nine out of 20) of analysts have a buy or strong buy rating on Evolution Mining shares. Another eight have a hold rating on the stock, and three rate the shares as a sell or strong sell.

The average $13.66 target price also implies around a 21% upside, at the time of writing. However, the more bullish of the bunch have forecast the shares to surge another 72% up to $19.45 a piece over the next 12 months. 

The team at Morgans think recent sector weakness provides a compelling entry point for Evolution Mining shares. The broker has a buy rating and a $15 target price on the mining shares.

Macquarie also has a buy rating on the ASX gold shares and a $14 target price.

Bell Potter is also bullish on the outlook for the gold giant’s shares. The team has a buy rating and a $16.45 target price.

The post Why Are Evolution Mining shares crashing over 5% today? appeared first on The Motley Fool Australia.

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Motley Fool contributor Samantha Menzies 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 Macquarie Group. The Motley Fool Australia has recommended Macquarie Group. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

The Qube Holdings Ltd (ASX: QUB) share price is in focus today after the company announced the Supreme Court has approved the scheme of arrangement for Rubik Australia to acquire all Qube shares, and the board declared a fully franked special dividend of 34.65 cents per share.

What did Qube report?

• The Supreme Court of NSW approved Rubik Australia’s acquisition of 100% of Qube shares.
• Qube declared a fully franked special dividend of $0.3465 per ordinary share.
• Trading in Qube shares will be suspended at close today, with scheme implementation scheduled for 14 August 2026.
• Scheme consideration for shareholders is $5.20 cash per share, less the interim and special dividends.
• Key scheme dates: Special Dividend Record Date is 14 July, payment on 23 July, Scheme Record Date is 24 July, Implementation Date is 14 August 2026.

What else do investors need to know?

The court’s approval means the scheme is now legally effective and Qube has lodged the orders with ASIC. Shareholders (other than UniSuper, which will receive shares in Rubik Australia Holdings) set to receive cash for their Qube shares need to be on the register at 7:00 pm, 24 July 2026.

The total cash payment per Qube share from Rubik Australia will be reduced by the sum of both the $0.0535 interim dividend declared in February and the $0.3465 special dividend. The special dividend record date is 14 July 2026 and payment will be made on 23 July 2026.

What’s next for Qube?

Trading in Qube shares on the ASX will be suspended after today’s close. The scheme implementation remains on track for 14 August 2026, when eligible shareholders can expect payment. Any changes to the timetable will be communicated through the ASX.

This acquisition marks a significant turning point for Qube, with the board expressing confidence shareholders are being fairly compensated. Investors should keep an eye out for further updates on the transition process.

Qube share price snapshot

Over the past 12 months, Qube shares have risen 21%, outperforming the S&P/ASX 200 Index (ASX: XJO), which has risen 1% over the same period.

View Original Announcement

The post Qube shares: Scheme now effective and special dividend declared appeared first on The Motley Fool Australia.

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Motley Fool contributor Laura Stewart has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips. This article was prepared with the assistance of Large Language Model (LLM) tools for the initial summary of the company announcement. Any content assisted by AI is subject to our robust human-in-the-loop quality control framework, involving thorough review, substantial editing, and fact-checking by our experienced writers and editors holding appropriate credentials. The Motley Fool Australia stands behind the work of our editorial team and takes ultimate responsibility for the content published by The Motley Fool Australia.