Step One Clothing Ltd FY26 Financial Results
Key points
- Revenue decreased by 26.7% to $63.68 million
- Loss from ordinary activities after tax was $6.35 million
- No final dividend declared for FY26
- Strong focus on strategic reset to improve brand positioning
- Introduction of six new products
Full summary
Step One Clothing Ltd reported a challenging financial year with a 26.7% decrease in revenues to $63.68 million and a loss from ordinary activities after tax of $6.35 million. The company undertook a strategic reset to reduce discounting and address inventory issues, resulting in a one-off inventory obsolescence provision of $9.1 million. Despite the challenging financial results, the company launched six new products and made progress in its strategic priorities. The board did not declare a final dividend for FY26, intending to resume dividends once retained earnings are positive.
Guidance
EBITDA decreased 142.5% to $7.4 million loss
Outlook
The company is focused on re-engaging existing customers, strengthening new customer acquisition, and expanding product offerings and sales channels.
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