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Adairs (ASX:ADH), the homewares and furniture retailer, is seeing divergent performance across its brands. In July 2026, Pendal Group noted Adairs' FY26 update showed the core Adairs brand performing well, with sales growth and positive like-for-like sales, while other brands lagged. In November 2025, LSN Capital Partners noted Adairs faced ongoing margin pressure from higher promotional activity, describing the Black Friday and Christmas trading period as a key test. Adairs operates in the Consumer Discretionary sector within the Specialty Retail industry, and Thesis Tracker has captured 5 comments from 5 fund managers, including Pendal Group and LSN Capital Partners. Founded in 1981 and headquartered in Melbourne, Adairs sells manchester, homewares and furniture through Adairs stores and online, Mocka online furniture and Focus on Furniture stores across Australia and New Zealand, supported by its Linen Lovers loyalty program and a national distribution centre.
Company figures as of 15 Oct 2026. For information only.
Fund managers including Firetrail Investments, Cerutty Macro Fund, Ten Cap, LSN Capital Partners and Pendal Group have invested in Adairs Ltd (ASX:ADH).
Pendal highlights strong performance from the core Adairs brand, with sales growth and positive like-for-like sales.
LSN notes margin pressure from heavy promotional activity, and Pendal points to weaker performance from other brands such as Focus on Furniture and Mocka.
Adairs Ltd, founded in 1981 and headquartered in Melbourne, Australia, is a retail company specializing in manchester and homewares. It operates through three core segments: Adairs, Focus on Furniture, and Mocka. The Adairs segment provides a lay-by service, transferring product control upon full payment and collection. Focus on Furniture is a vertically integrated omnichannel retailer offering home and bedding products across Australia. The Mocka segment sells exclusive, functional furniture and decor, including Kids and Baby categories. The company leverages these segments to provide diverse home furnishing solutions through physical and online retail channels.
General information only. Thesis Tracker reports what named fund managers have published about ASX companies. It does not take into account your objectives, financial situation or needs, and is not financial product advice or a recommendation to buy, sell or hold any security.
11,356 comments from 164 managers on 761 companies, snapshot 15 Oct 2026.