• Total sales up 4.2% to $845 million
• EBIT up 11.5% to $80.7 million
• NPAT of $47.2 million, EPS of 8.35 cents
• Interim dividend of 5.5 cents per share

Accent Group Limited (ASX: AX1) has reported EBIT of $80.7 million and NPAT of $47.2 million for the 26 weeks ended 29 December 2024 (H1 FY25). Total sales increased 4.2% to $845 million, with owned sales up 4.6%. The company delivered 2.9% Like-for-Like retail sales growth, opened 42 new stores, and secured the distribution rights for Dickies and Lacoste. Gross margin was impacted by the prevailing promotional environment, but the company's strategy to drive underlying gross margin improvement through an increasing mix of its distributed and owned vertical brands is expected to continue. Cost of Doing Business (CODB) was well managed, with CODB efficiencies in store lease renewal negotiations, support team costs, and distribution costs offsetting continued inflationary cost pressures. The company has 10 million contactable customers following the divestment of The Trybe. Accent Group continues to pursue a range of growth opportunities, including new store openings, growth from new distributed brands, and further expansion of Nude Lucy and Stylerunner. The company remains in active discussions with Frasers Group on a long-term strategic agreement, which is expected to be concluded during the second half of FY25.

Accent Group expects to continue its growth strategy, with plans to open more than 10 new stores in H2 FY25 and further expansion of its new distributed brands, Nude Lucy, and Stylerunner.