Oliver’s Real Food Boosts November Sales and Cuts Costs Sharply
Oliver’s Real Food reported a notable 6.5% rise in same-store sales for November 2025 alongside a 22% reduction in expenses, signaling improved operational efficiency. Despite a slight revenue dip year-to-date, the company’s profitability metrics show encouraging signs as it heads into the holiday season.
- November 2025 same-store sales up 6.5% year-on-year
- Expenses reduced by 22% compared to November 2024
- Gross margin percentage improved to nearly 64%
- Year-to-date revenue down slightly but operating profit positive
- Board remains cautiously optimistic entering peak trading period
Stronger November Performance
Oliver’s Real Food Limited (ASX, OLI) has delivered a significant improvement in its trading results for November 2025 compared to the same month last year. The company reported a 6.5% increase in same-store sales, a key indicator of underlying demand and customer loyalty. This uplift comes amid a broader retail environment that remains competitive and cost-conscious.
Alongside the sales growth, Oliver’s achieved a remarkable 22% reduction in total expenses for November, amounting to $319,000 less than the prior year. This cost discipline has been a consistent theme in recent months and has contributed materially to the company’s improved profitability.
Financial Highlights and Margins
While total revenue for November was slightly lower than the previous year, the company’s gross margin percentage rose to 63.97%, up from 61.84% in November 2024. This margin expansion reflects better cost control and possibly a more favourable sales mix. The operating result swung from a loss in November 2024 to a positive EBIT of $80,000 in November 2025, underscoring the impact of expense management.
Looking at the five-month period from July to November 2025, Oliver’s reported revenue of $9.68 million, down from $10.32 million in the prior year. However, gross margin improved to 63.8% from 63.1%, and expenses decreased by $1.19 million. This translated into a positive net profit before tax of $819,000, a significant turnaround from a loss of over $1 million in the previous corresponding period.
Outlook and Market Sentiment
The Board has expressed cautious optimism as the company enters the critical December and January holiday trading season. While the recent results are encouraging, the company remains mindful of ongoing market uncertainties and the need to sustain cost efficiencies. The positive momentum in sales and profitability could provide a foundation for stronger full-year results if maintained.
Chairman Martin Green’s communication signals confidence in the operational improvements but stops short of issuing formal guidance, reflecting a prudent approach to market expectations. Investors will be watching closely for subsequent monthly updates and any shifts in strategic direction as the company navigates the peak retail period.
Bottom Line?
Oliver’s Real Food’s November gains hint at a turnaround, but sustaining momentum through the holiday season will be key.
Questions in the middle?
- Can Oliver’s maintain expense reductions without impacting growth?
- Will the improved gross margin translate into sustained full-year profitability?
- How will the company navigate competitive pressures during the peak holiday season?
