Profits slide for multi-brand retailer Accent Group


Volatile business conditions and supply chain disruptions impacted shoe retailer Accent Group’s annual business results.

The company owns and operates retail businesses such as Platypus, The Athlete’s Foot, Subtype, The Trybe, HypeDC, Pivot and 4 Workers, and distributes global brands such as Dr Martens, Skechers, Vans and Merrell.

For the year ended June 26, group sales rose 13.8% to $1.27 billion, but EBITDA fell 11.8% to $213.6 million.

The company’s after-tax profit fell 59.1% to $31.5 million. Online sales increased 25.7% to $263.8 million, contributing 24.4% to total retail sales.

Accent Group CEO Daniel Agostinelli said operational disruptions had impacted this year’s financial results.

“Management recognizes that there is some uncertainty in the economic outlook and the global supply chain. We will continue to build a defensible business model in Australia and New Zealand.

“Our distributed global brand portfolio, own vertical brands, integrated digital capability and extensive store network are the group’s core strengths and position the business well for future growth.”

The group currently operates 762 stores – it opened 139 stores and closed 15 during the year.

The company said the first seven weeks of trading for FY23 have been favorable for the business so far, with like-for-like sales up 18.9% as the trading environment was relatively free. of disturbances.


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