• Total owned sales up 7.1% in first 18 weeks of H2 FY26
• Gross margin down 80 bps to 54.2% due to macroeconomic conditions
• Expects EBIT for H2 FY26 in $23-$28 million range, including $2 million in restructuring costs

Accent Group Limited (ASX: AX1) has provided an update on the company's trading performance for the first 18 weeks of H2 FY26 (29 December 2025 - 3 May 2026). Total owned sales increased by 7.1% compared to the prior corresponding period, while like-for-like retail sales were 1% lower. Gross margin for the continuing business was 54.2%, 80 basis points lower than the prior corresponding period. The company advises that trading to the end of March was in line with its prior guidance and expectations, but following the escalation in geopolitical tensions in late March, which contributed to higher fuel prices and a significant deterioration in consumer confidence, both sales and gross margin were adversely impacted during April. As a result of the changes in macroeconomic conditions, and the company's expectation that these conditions are unlikely to abate in the short term, Accent Group has updated its trading outlook for May and June. The company now expects EBIT for H2 FY26 to be in the range of $23 million to $28 million, which includes approximately $2 million of restructuring costs expected to be incurred from April to June FY26 as part of a new cost-out program to be announced at the company's upcoming Investor Strategy Day on 13 May 2026. The company also expects EBIT for FY26 to be in the range of $79.5 million to $84.5 million.

Accent Group expects EBIT for H2 FY26 to be in the range of $23 million to $28 million, including approximately $2 million of restructuring costs. The company also expects EBIT for FY26 to be in the range of $79.5 million to $84.5 million.

Accent Group will announce a new cost-out program at its upcoming Investor Strategy Day on 13 May 2026, which is expected to deliver significant cost savings in FY27.