Accent Group (ASX: AX1) plans to open 20 new stores in H2FY24.

Tue 21 May 24, 06:34 AM | Team Kalkine

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Highlights

Australia based Accent Group Limited (ASX: AX1) was established in 1988 as a wholesale distributor. Now, it owns and operates numerous footwear and apparel businesses in the active and performance lifestyle sectors. The company has more than 800 stores, over 35 online platforms and 34 brands across Australia and New Zealand.

In the first half of the financial year 2024 (1HFY24), AX1’s total sales, including franchisees, dropped by 1.74% YoY to AUD 810.9 million. During the reported period, net profit after tax stood at AUD 42.2 million, down 27.59% YoY and EBIT stood at AUD 72.36 million, down 20.63% YoY, driven by lower revenues.

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