Accent Group (AX1) H2 2026 earnings summary

Executive summary

• Total sales reached AUD 1.64 billion for FY26, up 0.9% year-over-year, with owned sales up 4.7% and underlying EBIT of AUD 105.3 million.

• Statutory NPAT was a loss of AUD 13.8 million due to a non-cash goodwill impairment of AUD 48.6 million.

• Closed loss-making businesses (Glue, OzSale) and exited low-performing brands, removing AUD 17.8 million in annual losses.

• 43 new stores opened, 59 closed, ending FY26 with 876 stores, focusing on growth brands like HOKA, Skechers, and Nude Lucy.

• Strategic growth investments focused on Sports Direct rollout and The Athlete's Foot (TAF) franchise reacquisition.

Financial highlights

• EBITDA was AUD 278.9 million (down from AUD 288.8 million in FY25); underlying EBIT AUD 105.3 million; reported EBIT AUD 34 million.

• Underlying NPAT was AUD 51 million; statutory NPAT was AUD -13.8 million due to goodwill impairment.

• Underlying EPS was AUD 0.085 per share; statutory EPS was AUD -0.023 per share.

• Fully-franked final dividend of AUD 0.0125 per share; total FY26 dividend AUD 0.045 per share (78% payout ratio).

• Retail sales reached AUD 1.4 billion (+4.0% YoY), wholesale sales AUD 172 million (+10.8% YoY), and vertical sales AUD 137 million (9% of total sales) with improving margins.

Outlook and guidance

• FY27 initiatives include AUD 10–15 million net cost savings, AUD 10–20 million gross margin upside from FX, and AUD 10 million EBIT benefit from TAF reacquisitions, store optimisation, and new stores.

• First seven weeks of FY27: owned sales up 3.2%, LFL sales down 2%, gross margin up year-over-year.

• 2030 Strategic Growth Plan targets AUD 1.9 billion in sales, 9%+ EBIT margin, and 950 stores by 2030.

• TAF reacquisition expected to contribute AUD 14 million incremental EBIT by 2030.

• 2030 targets subject to assumptions and risks outlined in regulatory filings.