Accent Group (ASX:AX1) report boost in online sales

Company News

by Rachael Jones

Footwear retailer Accent Group (ASX:AX1) says online sales strengthened over the months of May and June with financial year 2020 EBITDA 10 per cent above the $108.9 million in financial year 2019.

Over financial 2020 total like-for-like sales climbed 1.6 per cent, with digital sales over April to June up 150 per cent on the prior corresponding period. Digital sales in May totalled $29 million.

All stores were closed on 27 March and Australian stores re-opened for trade by 11 May and New Zealand stores reopened on 22 May.

This was enabled by the Jobkeeper program in Australia and the New Zealand wage subsidy scheme.

Shares in Accent Group (ASX:AX1) are trading 7.7 per cent higher at $1.47.

 

Rachael Jones

Finance News Network
Rachael comes to FNN after working for Fairfax Media covering international breaking news, including the global economy and politics. She joined FNN in February 2018. She has reported on Australia’s finance news for various organisations since 2000 and has also interviewed a number of key business players, including Bill Gates. Rachael has also worked across a number of countries, including the UK and the US.