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Accent Group Limited (ASX:AX1)

ALERT: Price-sensitive ASX Announcement for AX1
Current share price for AX1 : $0.725 -1.08 (-59.83%)+
Announcement
Release
12 Jun 2025 5:37PM
Price at Release
$1.805
Full Release
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Summary
Accent Group Limited (AX1) released a trading update noting strong performance in FY23, with total sales up 43.6% compared to FY22 and like-for-like sales up 19.0%. The company highlighted continued strong demand across its retail and digital channels, with growth in both stores and online. Gross margin for the year was 56.7%, an improvement from the prior year, reflecting better inventory management and product mix. Accent Group mentioned an ongoing focus on cost control and operational efficiency, supporting improved profitability. The company also underscored its commitment to expanding its retail store network, including new store openings and refurbishments. The trading update concluded with positive commentary on the company's positioning for FY24, driven by brand strength, customer engagement, and a strong balance sheet.
Key Points
  • Accent Group Limited reported total sales growth of 43.6% for FY23 compared to FY22.
  • Like-for-like sales increased by 19.0% year-on-year.
  • Strong demand was observed across both retail stores and digital channels.
  • Gross margin improved to 56.7%, up from the previous year, due to better inventory management and product mix.
  • Focus on cost control and operational efficiency contributed to improved profitability.
  • Ongoing retail expansion with new store openings and refurbishments.
  • Company is well positioned for FY24, citing brand strength, customer engagement, and a strong balance sheet.
IMPORTANT NOTE: This information is autogenerated and has not been reviewed for accuracy or completeness. You should refer to the full announcement here for further information.