• Accent Group delivered $1.46 billion in total company owned sales in FY25 with $57.7 million net profit
• Opened 54 new stores, growing contactable customer base to over 10 million
• Announced strategic partnership with Frasers Group to launch Sports Direct in Australia and New Zealand

Accent Group Limited (ASX: AX1) held its 2025 Annual General Meeting, where Chairman David Gordon welcomed shareholders and acknowledged the Traditional Custodians of the land. The company is holding a hybrid meeting, allowing both in-person and virtual attendance. Gordon began by providing an overview of Accent Group's FY25 performance. Despite a challenging consumer environment, the company delivered total company owned sales of $1.46 billion and a net profit after tax of $57.7 million. The company opened 54 new stores and now has a contactable customer base of over 10 million. The Chairman highlighted the company's strong and defensible market position, with a scalable business model, diverse brand portfolio, and new growth opportunities. He acknowledged the dedication and hard work of the Accent team.Turning to the financial results, Gordon noted that total sales for FY25 (including The Athlete's Foot franchisees) was $1.62 billion, up 0.8% on the prior year. EBIT of $110.2 million was down 0.2%, with NPAT of $57.7 million down 3.1%. Gross margin percentage was 54.9%, down 85 basis points.The Chairman then provided an update on Accent Group's sustainability initiatives, covering areas such as workplace safety, diversity and inclusion, ethical sourcing, data security, and environmental impact.Group CFO Matthew Durbin then presented operational highlights, including the continued growth of vertical brands and product sales, which now represent around 9% of total owned sales. Durbin also discussed the company's growth opportunities, including the strategic partnership with Frasers Group to launch Sports Direct in Australia and New Zealand, as well as plans to continue rolling out new stores for growth brands.In closing, the Chairman provided a trading update for the first 20 weeks of FY26, noting that total Group owned sales are up 3.7% year-to-date, but like-for-like sales are down 0.4% and gross margin is down 1.6% compared to the prior year. As a result, EBIT for H1 FY26 is expected to be in the range of $55 million to $60 million, and full-year EBIT is expected to be between $85 million and $95 million.

For the first 20 weeks of FY26, total Group owned sales YTD are up 3.7% compared to the prior year, with like-for-like sales down 0.4%. FY26 gross margin % is down 1.6% compared to the prior year. EBIT for H1 FY26 is expected to be in the range of $55M- $60M, and full-year EBIT is expected to be in a range of $85M - $95M.

Accent Group remains focused on growth and return on investment for shareholders, with plans to continue rolling out new stores for growth brands such as Nude Lucy, Stylerunner, HOKA and Ugg. The company also plans to further expand its TAF Franchise reacquisition program.