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AX1, ACCENT GROUP LIMITED
terrine
post Posted: Feb 26 2018, 08:34 AM
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The Athlete Foot's brand owner Accent Group has lifted first half profit by 19.4 per cent to $25.3 million thanks to strong growth in online sales and the rollout of more stores.

Revenue for the six months to December 25 rose 20.3 per cent to $362.5 million with the company-owned retail sales up 21 per cent to $295.1 million.

Shares in Accent soared 18.5 per cent to an 11-month high of $1.055 on Friday following its record results.

The company, which also distributes Dr. Martens and Merrell brands, said sales for company-owned businesses rose strongly, with click-and-collect sales up 170 per cent on the same period a year ago, and 22 new stores - less seven closures - also driving new revenue.

Accent's Platypus and Skechers outlets traded in line with expectations with stronger gross margins in the lead-up to Christmas.

Vans continued its strong performance, driven by growth in the classic "Old Skool' sneaker, the company added.

The group's wholesale sales were up 2.5 per cent to $55.1 million, in line with the company's expectations.

Accent Group's co-chief executive Daniel Agostinelli said the results were a record for the company, which is carefully managing its lease agreements to combat an ongoing decline in customers going to shopping centres.

"The industry-wide fall in centre traffic has been well publicised and while we continue to get sustainable rent outcomes for the vast majority of store renewal negotiations, it is our intent to continue to close stores where landlords are unwilling to agree to acceptable occupancy renewal outcomes," he said.

The group, formerly called RCG Corporation, said it now has distribution rights to 10 international brands and over 445 stores across 10 retail banners.

Accent plans to open a further 10 new stores in the second half of 2017/18, which includes expansion of its Hype DC chain to New Zealand.

Accent's record result also benefited from the inclusion of the first week of post-Christmas sales in the first half figures, whereas a year earlier the sales fell in the second half.

However like-for-like sales for the first seven weeks of the second half are up four per cent, the company said, while underlying earnings for the first seven months of the year are up 12 per cent compared to the previous corresponding period.



Petrina Berry, Australian Associated Press

February 23, 2018 4:24pm






 
terrine
post Posted: Feb 23 2018, 09:42 AM
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In Reply To: terrine's post @ Nov 28 2017, 11:18 AM

PAYDAY for Mr Blundy (and this cattle baron knows a lil bit about retailing) and the faithfull
a decent interim result with double digit profit growth - SP up 20 cps

 
terrine
post Posted: Nov 28 2017, 11:18 AM
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Australian billionaire and chairman of BB Retail Capital (BBRC) Bretty Blundy has acquired 11.82% of footwear retail company Accent Group (previously RCG). Blundy has acquired 64,000,000 ordinary shares for $0.95 per share, which represents a 20% premium to RGC's last closing price of $0.79.As a result of this latest purchase, Blundy is now the largest single shareholder within the company, holding 14.4% of Accent's issued shares.


Read more at http://www.ragtrader.com.au/news/billionai...AOEoUGO0X5B4.99

 
terrine
post Posted: Jul 29 2016, 04:14 PM
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Added today to the S&P ASX 200

Funds may need to reweight this stock

 
terrine
post Posted: Jul 4 2016, 02:02 PM
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RCG shares jump on Hype sneakers deal

Shares in shoe retailer RCG Corporation have soared following announcement of its deal to acquire sneaker chain Hype DC and guidance of increased full-year earnings. Trans-Tasman RCG is buying Australian footwear retailer Hype DC Pty Ltd for about $105 million.

RCG said the acquisition will be earnings accretive in the 2016/17 financial year.

The retailer said its 2015/16 underlying earnings before interest, tax, depreciation and amortisations (EBITDA) is likely to be $60 million - the top-end of its guidance range.

Underlying earnings in 2016/17, including the Hype DC deal, are expected to come in at $90 million.

At its half-year results in February, RCG gave guidance of underlying full-year earnings for 2015/16 of $58 million to $60 million.




 
cooderman
post Posted: Apr 21 2016, 09:45 AM
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RCG now a long way off Cap. Raising price of 150...thought it might find support at 134, I will now look towards low 120s.
A few Daily closes above 134 would be better for Holders and may bring in a few punters willing to take a risk.
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terrine
post Posted: Feb 24 2016, 03:56 PM
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TRADING HALT TILL TOMORROW
$50M CAPITAL RAISING
TODAYS HALF YEARLY 25% INCREASE TO FF DIVS
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terrine
post Posted: Nov 25 2015, 03:18 PM
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In Reply To: nipper's post @ Nov 22 2015, 12:57 PM

FROM TODAYS AGM ...
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Said 'Thanks' for this post: nipper  
 
nipper
post Posted: Nov 22 2015, 12:57 PM
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In Reply To: terrine's post @ Nov 22 2015, 09:33 AM

QUOTE
Footwear distributor and retailer, RCG Corp has a strong growth outlook, being exposed to the growing casual and sportswear market.

Moelis, in initiating coverage of the stock, is confident this exposure, as well as the revitalisation of its loyalty program, will underpin future growth. The broker notes sports-inspired fashion is now being worn as part of regular attire and this goes right down to the feet.

The company is increasingly intent on providing sports shoes that have a greater focus on fit and innovation and incorporate the trend to more casual dress and active wear as a fashion statement.
The popularity of running events has increased demand for such footwear, with the broker noting people are now increasingly wanting footwear product that is recommended and properly fitted. In tandem, manufacturers have introduced sole technology to provide less strain on feet and a more comfortable fit.
The broker notes the depreciation of the Australian dollar is also making domestic retailers more attractive for consumers versus the recent inroads made by online operators.
On this basis Moelis takes up coverage with a Buy rating and $1.70 target. Beyond FY17 further growth is expected to be underpinned by the roll out of stores, an improvement in the online offering and the implementation of the revitalised loyalty program across all divisions including The Athlete's Foot, RCG Brands and Accent Group.
The management team has strong track record of creating shareholder value, Moelis observes. The company has historically maintained a net debt position but increased its debt to acquire Accent Group in May this year. Accent is also a vertically integrated distributor and retailer which, in the broker's opinion, will be a key driver of growth. That business owns and operates 120 stores with plans to open at least 20 in FY16.

Consensus estimates have RGC trading on a FY16 enterprise value/earnings ratio of 12.5 and a price/earnings ratio of 23.3, a premium to its peers, and Moelis suspects an upgrade to estimates is in the offing, given the strong operating momentum.
The broker's FY16 earnings estimate is $60.8m, 8.6% above the mid point of management's guidance. Moelis considers its growth assumptions are achievable but the target is reliant on an earnings upgrade being realised. The dividend yield on the broker's FY16 estimates is 3.9% and on FY17 estimates it is 5.2%.

The risks are centred a reliance on the continuation of this trend to more casual footwear. As a distributor, RCG also relies on manufacturers to develop appealing products. The company is exposed to the premium end of the market and therefore changes in consumer confidence, household income and discretionary expenditure can have an impact on sales. A loss of a major distribution licence could also impact profitability substantially.

The company has over 290 stores in Australia and New Zealand across various retail chains, with exclusive distribution rights to 13 brands. The wholesale business is expected to generate around 29% of FY16 sales. The Athlete's Foot is one of the well known business brands, encompassing both company-owned and franchised stores. The Athlete's Foot has invested in fitting technology and customer service to differentiate itself from competitors. Moelis considers this a mature business but positioned to increase its profit growth by a revamped offering online and through loyalty programs. It is confident in the near term that, via the weaker Australian dollar and consumers' desire for fitting services, the business can maintain its position as a premier retailer without significant margin pressure. Moreover, Moelis expects customer will increasingly return to bricks and mortar stores to try on products and obtain services and experiences outside of online offerings.






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"Every long-term security is nothing more than a claim on some expected future stream of cash that will be delivered into the hands of investors over time. For a given stream of expected future cash payments, the higher the price investors pay today for that stream of cash, the lower the long-term return they will achieve on their investment over time." - Dr John Hussman

"If I had even the slightest grasp upon my own faculties, I would not make essays, I would make decisions." ― Michel de Montaigne
 
terrine
post Posted: Nov 22 2015, 09:33 AM
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CONTINUES TO DELIVER CLOSED ON 52 WK HIGH $1.50,
NOT A BAD WORD OUT THERE

BUY AND OUTPERFORM http://markets.ft.com/research/Markets/Tea...casts?s=RCG:ASX

STRONG BUY https://www.investsmart.com.au/shares/asx-r...oration-limited

OVERPERFORM http://markets.theaustralian.com.au/shares...oration-limited
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