The gamble pays off

August 27, 2015 | Ragtrader

This is how a $203 million acquisition has paid off for a major footwear retail group.

RCG Corporation has bolstered its underlying net profit after tax by 16 per cent to $13.7 million for the financial year. The group finalised its acquisition of Accent Group in May, adding brands such as Skechers, Vans and Timberland to its portfolio.

Accent Group contributed gross earnings of $3.3 million on sales of $29.5 million. Like for like sales spiked by 31 per cent and total sales growth exceeded 80 per cent for the 12 months to June 30, 2015.

RCG CEO Hilton Brett said the newly acquired portfolio was a strong performer.

Read the rest here.

Return to News and Media page >>