• 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

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.

EBITDA decreased 142.5% to $7.4 million loss

The company is focused on re-engaging existing customers, strengthening new customer acquisition, and expanding product offerings and sales channels.