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Accent Group updates guidance after strong start to FY19

November 23, 2018 | Inside Retailing

Footwear retailer Accent Group has more than doubled its forecast for earnings in the first half of FY19, after seeing better-than-expected results over the first 20 weeks of the financial year.
The group initially expected EBIDTA to grow by mid-single digits in FY19, but now expects between 15 and 20 per cent growth in the first half of the fiscal year.
Like-for-like sales across the group grew 2.5 per cent, which Accent attributed to its focus on its “no lazy retailing”, that is discount-driven promotional activity, while digital sales increased 88 per cent compared to the same period last year.

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