Accent Group FY24 AGM highlights

Accent Group (ASX:AX1) held its Annual General Meeting on November 21, 2024, presenting to shareholders amidst a challenging consumer environment. The company reported total sales of $1.61 billion and a net profit after tax of $59.5 million for FY24. Key strategies include expanding its store network and enhancing digital capabilities.

Accent Group FY24 performance and future outlook

Accent Group (ASX:AX1) has navigated a challenging consumer landscape to report substantial sales and profit figures at its recent AGM. With a strong focus on growth, the company opened 93 new stores in FY24, bringing its total to 895, and expanded its customer database to 10.2 million. Sustainability is a priority, with initiatives in ethical sourcing and environmental stewardship. Significant board changes were announced, with new appointments following strategic acquisitions. Looking ahead, Accent Group aims to continue expanding its store network, improve gross margins, and grow its digital sales. The company anticipates further growth with plans to open around 40 new stores in the first half of FY25 and remains committed to enhancing shareholder returns.

Executive insights on FY24 and beyond

Despite a challenging consumer environment, we have delivered a solid performance with total sales of $1.61 billion and a net profit after tax of $59.5 million. We remain focused on executing our growth strategy, which includes expanding our store network, enhancing our digital capabilities, and growing our brand portfolio.