Temple & Webster Falls Most Since 2016 on Revenue Slowdown

Temple & Webster Group Ltd. shares dropped the most in nine years after the Australian online furniture retailer reported a slowdown in its sales growth.

The stock slipped as much as 33% in Sydney trading, its largest slump since April 2016. Revenue from July 1 to Nov. 20 rose 18% year-on-year, the company said in a trading update on Wednesday, compared to an increase of 28% during the July 1 to Aug. 11 period. Analysts are expecting revenue growth of 23% for the current half, according to data compiled by Bloomberg.