Accent Group reports 3.9% drop in FY27 retail sales

Accent Group (ASX:AX1) reported a 1.9% decline in total owned sales and a 3.9% drop in like-for-like retail sales across the first 19 weeks of FY27, highlighting weaker consumer footwear demand.

Trading deteriorated further after late August, with like-for-like sales falling 5.0% between weeks 8 and 19 compared to a 0.4% decline in the prior corresponding period.

“The initiatives we have implemented under the 2030 Strategic Growth Plan have been delivered in line with the plan, and the benefits they are generating aim to ensure the business remains resilient as we enter the busiest trading period of the year,” said Accent Group CEO Daniel Agostinelli.

Owned retail sales fell 1.5% and wholesale sales dropped 5.1%, while Accent Group expects to open eight Sports Direct stores and two websites by December 2026.

Management stated that full-year earnings will depend heavily on upcoming Black Friday, Cyber Monday, Christmas, and back-to-school sales.

Following the announcement, the Accent Group share price was down at $0.65.

In recent months, Accent Group closed its Glue and OzSale operations, reacquired 17 The Athlete's Foot franchises, discontinued three distribution agreements, and opposed an unsolicited $0.65 per share takeover bid from Frasers Group.