AX1.ASX: Trading Update

Trading Update

Stock	Accent Group Ltd (AX1.ASX)
Release Time	12 Jun 2025, 5:37 p.m.
Price Sensitive	Yes

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Accent Group Provides Trading Update for FY25

Key Points

Challenging trading conditions in H2 impacted sales
Gross margins under pressure due to promotional environment
FY25 EBIT expected in range of $108.0 million - $111.0 million

Full Summary

Accent Group Limited (ASX:AX1) has provided a trading update for the second half of the financial year 2025 (H2 FY25). The company reports that trading conditions have continued to be challenging through H2, with low overall growth in the lifestyle footwear market from March to early June impacting sales in both the retail and wholesale segments. The prevailing promotional environment, along with a disciplined focus on managing inventory levels in a lower sales environment, has put pressure on gross margins. Like for Like sales for the 23 weeks ended 8 June 2025 are -1.0% (H2 Weeks 8-23 -2.5%), and Gross margin % H2 to date is down around 80 basis points to the comparable period last year. The company advises that it expects the Group EBIT (post AASB16) for the full year ended 29 June 2025 to be in a range of $108.0 million - $111.0 million.

Guidance

The company expects the Group EBIT (post AASB16) for the full year ended 29 June 2025 to be in a range of $108.0 million - $111.0 million.