Adairs chief executive and managing director Elle Roseby has resigned following a fiscal 2026 statutory net loss of $39.4 million, the Australian homeware group announced on Tuesday.
Roseby will stay in the post through her notice period ending in March 2027. Meanwhile, the board is conducting an executive search across its three retail brands.
Executive changes and management shuffle
Rachel Taylor stepped into the newly created role of executive general manager at the flagship Adairs brand. Chief financial officer Matt Edmonds expanded his duties. He now oversees daily operations alongside his finance brief.
She joined Adairs in January 2025 after running Country Road and Trenery at Country Road Group. The board said the restructured team will maintain operational momentum while recruiting a permanent successor.
With Elle continuing to lead the business and supporting the transition, we are well placed to maintain momentum through an orderly change in leadership.
Impairment charges drag down balance sheet
An asset impairment against Focus on Furniture drove the $39.4 million statutory loss. Softer spending on bulky home goods and higher borrowing costs reduced the book value of the furniture unit. That hit the bottom line despite sales gains at the core Adairs banner and online brand Mocka.
Homeware operators across the region face tighter discretionary spending as higher living costs deter shoppers from large interior purchases. For Adairs, the non-cash write-down exposed the volatility of furniture acquisitions compared to bedding and linen sales.
Retreat from New Zealand retail
During her tenure, Roseby closed all seven Adairs brick-and-mortar stores in New Zealand to concentrate capital and logistics on Australia. Exiting physical shops across the Tasman Sea ended an expensive regional footprint. Offshore demand shifted to e-commerce channels.
Landlords and suppliers now see a business focused exclusively on Australian retail parks and shopping malls. Eliminating loss-making overseas leases reduced fixed property costs. However, it leaves the company dependent on domestic consumer confidence.
What the leadership transition leaves open
The incoming chief executive inherits three distinct businesses in Adairs, Mocka, and Focus on Furniture. Stabilising margins across the bulky furniture portfolio represents the primary test for the next administration.
Roseby will continue running group operations and supporting Taylor and Edmonds through to her departure in March 2027.
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