Accent Group has reported a strong start to the first half of fiscal 2023, with buoyant trade through November and December.
Including 'The Athlete's Foot' franchisees, total sales were up 39% to $825 million with earnings before interest and tax (EBIT) expected to be in the range of $90 million to $92 million.
Accent Group CEO Daniel Agostinelli said the Christmas trading period was particularly strong.
“Trading conditions in November and December continued to be very positive and were consistent across Accent Group’s retail and wholesale banners.
"Deliveries of fresh new product throughout H1 and in the lead up to Christmas helped to drive higher than expected sales.
"Despite the impact of currency and clearance of discontinued brands, we are pleased with the year-on-year improvement in gross margin. Overall inventory levels are clean and well positioned for the start of H2, reflecting a strong in-stock position in core lines and early deliveries of wholesale product for H2 sales.
"Trade to date in January including “back to school” has been in line with expectationsincluding a continued recovery against softer trade last year.”
The Company will release its full H1 FY23 results after ASX trading close on Thursday, 23 February.