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Step One Clothing Limited (ASX:STP)

ALERT: Price-sensitive ASX Announcement for STP
Current share price for STP : $0.140 -0.345 (-71.13%)+
Announcement
Release
4 Dec 2025 9:16AM
Price at Release
$0.485
Full Release
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Summary
Step One Clothing Limited, a leading online direct-to-consumer innerwear brand, provided a trading update for the first half of FY26. The company expects 1H26 revenue to be between $30 million and $33 million, a decline from $48.1 million in the prior corresponding period. EBITDA is projected to be a loss of between $9 million and $11 million, a significant drop from a $11.3 million profit in 1H25, largely due to a $10 million provision for inventory obsolescence. The unexpected sales results necessitated this provision. Consequently, the company withdrew its FY26 EBITDA guidance, with plans to update the market once trading and inventory outcomes become clearer. The financial results are subject to auditor review, and Step One plans to report its 1H26 financial result on 18 February 2026.
Key Points
  • 1H26 revenue expected between $30 million and $33 million.
  • Revenue decline of 31% to 37% compared to 1H25.
  • 1H26 EBITDA expected to be a loss of $9 million to $11 million.
  • Provision of $10 million for inventory obsolescence.
  • Sales results below expectations, impacting inventory.
  • FY26 EBITDA guidance withdrawn.
  • Further market updates pending trading and inventory outcomes.
  • 1H26 financial results to be reported on 18 February 2026.
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.