Accent Group (ASX:AX1) provided trading update for FY20 stating that its online sales have strengthened in May and June. The results include:
- EBIDTA expected to be at 10% above the $108.9 million in FY19
- Total year to date sales (till 21 June) for FY20 stood at $923 million with adjusted like-for-like sales increasing 1.6%
- Digital sales were up 150% on April to June 2020 ((till 21 June)) over pcp
- Australian and New Zealand stores reopened on 11 May and 22 May respectively for trade
- Re-opening of stores was enabled by the Jobkeeper program in Australia and the New Zealand wage subsidy scheme
There is no investor left unperturbed with the ongoing trade conflicts between US-China and the devastating bushfire in Australia.
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