ACCENT GROUP LTD

Accent Group reported adjusted EBIT of AUD 105.3m and adjusted EPS of AUD 0.085 for fiscal 2026, but suffered an accounting net loss of AUD 13.8m after a goodwill write-down of AUD 48.6m. Like-for-like retail sales fell 0.5% for the year and 2.0% in the second half, while performance sports brands showed growth. Shares fell 7.59%; management gave no EBIT guidance for FY2027 but expects cost savings (AUD 10–15m), positive currency effects (AUD 10–20m) and headwinds from the rollout of Sports Direct. » Więcej na de.investing.com

Citi has raised the price target for Accent Group by 5% to A$0.60 and increased EPS estimates for fiscal years 2027 and 2028 by 27% and 41%, respectively. The bank attributes the upward revisions to the shoe retailer’s cost‑cutting strategy. For 2026 Citi left its estimate largely unchanged and expects EBIT of A$81.5m. It also revised the outlook for 2030 and now forecasts an EBIT margin of 7.9% (previously 4.8%). » Więcej na de.investing.com

Accent Group lowered its EBIT forecast for H2 FY2026 to A$23–28m, which at the midpoint represents a 22% reduction versus prior expectations and is around 20% below consensus. The guidance includes about A$2m of restructuring costs for a planned cost‑reduction program due to take effect April–June. Like‑for‑like sales in H2 to 3 May fell 1% (consensus +0.7%) and management estimated April down 3.6%; gross margin fell to 54.2% to 26 April (−80 basis points). Accent Group expects current trading conditions to persist and is planning further savings, with details to be presented at the upcoming Investor Strategy Day. » Więcej na de.investing.com