Accent Group reports improved sales across all its brands
Positive trading conditions boosted sales for multi-brand apparel retailer Accent Group in its December half.
The company owns and operates brands including Platypus, The Athlete’s Foot, Subtype, The Trybe, HypeDC, Pivot and 4 Workers, and distributes global labels including Dr Martens, Skechers, Vans and Merrell.
In a trading update of unaudited accounts for the 27 weeks to January 1, the business says sales grew 39 per cent to $825 million while earnings before tax are expected to be in the range of $90 million to $92 million.
Accent Group CEO, Daniel Agostinelli, said trading conditions in November and December were “positive and consistent” across the board.
“Deliveries of fresh new products throughout the first half and in the lead up to Christmas helped to drive higher than expected sales.
“Despite the impact of currency and clearance of discontinued brands, we are pleased with the year-on-year improvement in gross margin.”
He added the business is “well-positioned” for the start of the second half as overall inventory levels are clean.
Last year, volatile trading conditions and supply chain disruptions impacted the group’s full-year profits.
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