Shares in the furniture retail company Temple & Webster (ASX:TPW) have suffered considerably, marking an intraday drop of as much as 17%, down to A$5.71.

This constitutes the largest drop for the company seen since last February.

In addition to this, the stock has hit its lowest point since July 7.

The reason behind the plummet relates to a concerning fiscal year report.

Our figures show a disappointing A$395.5 million revenue from ordinary activities, which marks a 7.2% regression from the previous year.

The company has also revealed a fiscal year’s profit - before tax - of A$12 million, down by 9.7% from the last fiscal year.

It’s significant to note that more than 3.6 million shares have changed hands recently compared to the 30-day average of around 411,000 shares.

This drop arrives after the stocks had seen a growth of 49.2% this year prior to last closing.

Temple & Webster (ASX:TPW) is an established furniture retailer with a broad customer base.