Accent Group trading update: Group owned sales down 1.9% after 19 weeks of FY27
Accent Group (ASX: AX1) said in its 13 November 2026 trading update that total Group owned sales (ex-closed businesses) are down 1.9% for the first 19 weeks of FY27. Like for like (LFL) retail sales are down 3.9%, against a prior year decline of 0.4%.
LFL sales are down 5.0% for weeks 8 to 19, the period since the previous trading update in August 2026. Year-to-date gross margin % as at the end of October (week 18) is up on last year, inclusive of the FX hedging benefits.
Sales performance across retail and wholesale
The update reported the following sales movements:
- Group owned sales (ex-closed businesses): down 1.9%
- Owned retail sales (ex-closed businesses): down 1.5%
- Wholesale sales: down 5.1%
- LFL retail sales: down 3.9% over 19 weeks, and down 5.0% over weeks 8 to 19
The company cited continued elevated fuel prices, interest rate rises and general consumer confidence as factors that have affected spending in the footwear category. Trading conditions have deteriorated since late August, in particular in the lead up to and since the November interest rate rise, resulting in lower LFL sales which have been below expectations.
Gross margin %, while up on last year, has also been impacted. Wholesale sales are also below last year, reflecting the broader footwear market impact.
2030 Strategic Growth Plan: initiatives delivered
Accent Group said the key initiatives of the 2030 Strategic Growth Plan have been implemented, and the benefits are being realised in line with the Plan. These initiatives include:
- The closure of Glue and OzSale
- FX hedging benefits
- CODB savings
- TAF franchise reacquisitions
However, the aggregate financial benefit of those initiatives has to date been offset by weaker like-for-like sales and gross margin pressure.
The Sports Direct rollout remains in line with the Retail Agreement with Frasers Group plc. 8 stores and 2 websites, including New Zealand, are expected to be trading by the end of December 2026.
Frasers is also the retail partner behind Sports Direct, and it launched a hostile on-market bid for Accent in June 2026, entering the offer period with a stake of about 22.9% already in hand.
Daniel Agostinelli, CEO
“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…”
What happens next for Accent Group
Accent Group said the Group is well positioned for the key Black Friday, Cyber Monday, Christmas and back-to-school trading period, which covers the three largest trading months of the year. The result for H1 and FY27 will depend significantly on trading during this period, and the Board and management remain focused on trade and the factors within their control.
The weaker trading comes while the Frasers takeover bid sits at a best and final cash price of A$0.65, with the offer open until 29 January 2027 and Frasers holding a blocking stake of roughly 22.9%.
- Black Friday, Cyber Monday, Christmas and back-to-school trading period: the three largest trading months of the year, which the company said will significantly determine the H1 and FY27 result.
- Sports Direct rollout: expected to be trading by the end of December 2026, in line with the Retail Agreement with Frasers Group plc.
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