Accent Group Ltd
ASX:AX1
Accent Group Ltd
Accent Group Ltd. operates as an investment holding company, which engages in the retail of performance and lifestyle footwear. The company is headquartered in Richmond, Victoria and currently employs 5,321 full-time employees. The company went IPO on 2004-07-07. The firm operates with approximately 638 stores. The firm's geographical segments include Australia and New Zealand. The company also operates online platforms across Australia and New Zealand. The Company’s brands include 4Workers, Dr. Martens, HypeDC, PIVOT, Platypus, Saucony, SneakerLab, Stance, Supra, TheTrybe, Vans, CAT, EXIE, Merrell, Palladium, SUBTYPE, Skechers, Sperry, Stylerunner, The Athlete’s Foot and Timberland. The Company’s subsidiaries include The Athlete's Foot Australia Pty Ltd, TAF Constructions Pty Ltd, RCG Brands Pty Ltd, TAF Partnership Stores Pty Ltd, Accent Group Ltd,,RCG Grounded Pty Ltd, Cremm Pty Ltd and Subtype Limited.
Accent Group Ltd. operates as an investment holding company, which engages in the retail of performance and lifestyle footwear. The company is headquartered in Richmond, Victoria and currently employs 5,321 full-time employees. The company went IPO on 2004-07-07. The firm operates with approximately 638 stores. The firm's geographical segments include Australia and New Zealand. The company also operates online platforms across Australia and New Zealand. The Company’s brands include 4Workers, Dr. Martens, HypeDC, PIVOT, Platypus, Saucony, SneakerLab, Stance, Supra, TheTrybe, Vans, CAT, EXIE, Merrell, Palladium, SUBTYPE, Skechers, Sperry, Stylerunner, The Athlete’s Foot and Timberland. The Company’s subsidiaries include The Athlete's Foot Australia Pty Ltd, TAF Constructions Pty Ltd, RCG Brands Pty Ltd, TAF Partnership Stores Pty Ltd, Accent Group Ltd,,RCG Grounded Pty Ltd, Cremm Pty Ltd and Subtype Limited.
Record Profit: Accent Group delivered record half-year profit, with EBITDA up 44% to $97.5 million and net profit after tax up 57.3% to $52.8 million.
Surging Digital Sales: Digital sales grew 110% year-on-year and made up 22.3% of total sales for the half.
Store Expansion: 50 new stores were opened in the half, and the company now expects to open 90 stores in FY21, up from previous guidance of 80.
Growing Customer Database: Accent Group added 800,000 new contactable customers, increasing its database to 7.6 million.
Strong Start to H2: Like-for-like sales were up 10.7% and digital sales up 65% in the first 8 weeks of the second half, despite lockdowns.
Dividend Increase: Interim dividend raised 52% to $0.08 per share, fully franked.
No FY21 Guidance: The company did not provide full-year guidance due to ongoing COVID-19 uncertainty.
