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Highlights
- AX1 posted 4.2% YoY sales growth and 11.7% NPAT rise in H1FY25.
- In H1FY25, AX1 opened 42 stores, secured Dickies and Lacoste, and exited The Trybe.
- AX1 targets AUD 108–111 million EBIT and growth via store rollout and Sports Direct JV.
Accent Group Limited (ASX:AX1) is a digitally integrated footwear and apparel retailer with over 900 stores across Australia and New Zealand, holding exclusive distribution rights for 14 global brands such as Skechers, Dr. Martens, Vans and Merrell.
In the first half of the financial year 2025 (H1FY25), the company’s group sales increased by 4.2% YoY to AUD 844.6 million, like-for-like retail sales increased by 2.9% and wholesale sales jumped 1.3%. EBITDA for the period grew by 0.5% YoY to AUD 158.3 million, while NPAT rose by 11.7% YoY to AUD 47.2 million, supported by disciplined cost management, including optimised store leases and improved operational efficiencies that mitigated inflationary impacts.
During the period, the company opened 42 new stores, secured exclusive distribution rights for Dickies and Lacoste, divested The Trybe business, and progressed the closure of underperforming Glue stores.
Business Update
On 17 June 2025, Director Lawrence Myers acquired 1.06 million AX1 shares via on-market trades, increasing his indirect holding to 2.26 million shares across various entities.
Company Outlook
AX1 expects softer sales in 2HFY25 due to weak lifestyle footwear market growth and a competitive promotional environment, with full-year EBIT forecasted between AUD 108–111 million. The company is focusing on store expansion, growing key vertical and distributed brands, and improving gross margins through better inventory management and controlled promotional activity.
The company expects future growth through continued store openings, franchise acquisitions, and expansion of brands like Nude Lucy and Stylerunner, alongside new distributed labels.
AX1’s partnership with Frasers Group to launch Sports Direct in Australia and New Zealand is anticipated to deliver scale, distribution benefits, and competitive positioning from FY26 onward.
Top 10 Shareholders of AX1
The top 10 shareholders of AX1 collectively hold approximately 39.25% of the company’s shares, with Frasers Group PLC and Netwealth Investments Ltd. owning the largest portions at around 19.90% and 3.57%, respectively.
Share performance of AX1
AX1 share price dropped by 0.66% to AUD 1.500 per share on 14 July 2025. Over the past one month, the stock gained 10.29% and weekly gains stood at 0.67%. However, AX1’s share price has declining 17.36% over the past three months, 32.43% in six months, and 24.24% over the past year.
The 52-week high for AX1 is AUD 2.660, recorded on 6 December 2024, while the 52-week low is AUD 1.280, reached on 19 June 2025.
Support and Resistance Summary
Note 1: Past performance is neither an Indicator nor a guarantee of future performance.
Note 2: The reference date for all price data, and currency, is 14 July 2025. The reference data in this report has been partly sourced from EODHD/Others.
Technical Indicators Defined:
Support: A level at which the stock prices tend to find support if they are falling, and a downtrend may take a pause backed by demand or buying interest. Support 1 refers to the nearby support level for the stock and if the price breaches the level, then Support 2 may act as the crucial support level for the stock.
Resistance: A level at which the stock prices tend to find resistance when they are rising, and an uptrend may take a pause due to profit booking or selling interest. Resistance 1 refers to the nearby resistance level for the stock and if the price surpasses the level, then Resistance 2 may act as the crucial resistance level for the stock.
Disclaimer
This article has been prepared by Kalkine Media, echoed on the website kalkinemedia.com/au and associated pages, based on the information obtained and collated from the subscription reports prepared by Kalkine Pty. Ltd. [ABN 34 154 808 312; AFSL no. 425376] on Kalkine.com.au (and associated pages). The principal purpose of the content is to provide factual information only for educational purposes. None of the content in this article, including any news, quotes, information, data, text, reports, ratings, opinions, images, photos, graphics, graphs, charts, animations, and video is or is intended to be, advisory in nature. The content does not contain or imply any recommendation or opinion intended to influence your financial decisions, including but not limited to, in respect of any particular security, transaction, or investment strategy, and must not be relied upon by you as such. The content is provided without any express or implied warranties of any kind. Kalkine Media, and its related bodies corporate, agents, and employees (Kalkine Group) cannot and do not warrant the accuracy, completeness, timeliness, merchantability, or fitness for a particular purpose of the content or the website, and to the extent permitted by law, Kalkine Group hereby disclaims any and all such express or implied warranties. Kalkine Group shall NOT be held liable for any investment or trading losses you may incur by using the information shared on our website.
