Accent Group Limited outlined an ambitious 2030 Strategic Growth Plan targeting $1.9 billion in sales, EBIT margins exceeding 9 percent and approximately 950 stores. The ASX-listed retailer is pursuing this growth through three strategic pillars: Efficiency, Evolution and Expansion. The plan provides investors with a concrete roadmap for how management intends to unlock value from its portfolio of leading performance and lifestyle brands across Oceania, underpinned by a commitment to operational improvement and capital discipline.
The Efficiency pillar addresses the company’s near-term cost structure, targeting $40 million in gross cost savings with $30 million actioned in FY27 and a further $10 million through FY28. After accounting for inflation and comparable sales growth, the company expects net cost savings of $15 million to $20 million by the end of FY28. Beyond cost reduction, the company is pursuing store portfolio optimization that is forecast to deliver at least $7 million in EBIT uplift by 2030 through lease renegotiations, avoiding losses at underperforming sites and targeted performance improvements.
Evolution involves refreshing the company’s brand portfolio to match shifting customer preferences. The strategy includes reacquiring franchisees for The Athlete’s Foot, expected to contribute roughly $14 million in incremental EBIT by 2030. The core lifestyle brands will be repositioned with expanded product categories and new store concepts, while Sports Direct is set for significant expansion with 30 stores planned across Australia and New Zealand within three years and 50 to 100 stores over the longer term. The company is also scaling vertical brands including Nude Lucy and ODE alongside distributed brands such as HOKA and Lacoste.
The Expansion pillar targets up to 20 new stores across core and growth brands including Skechers, HOKA, Lacoste, Nude Lucy and ODE. For FY27 specifically, the company has identified a pipeline of EBIT-improving initiatives worth $16 million from closing loss-making businesses, up to $6 million from The Athlete’s Foot franchisee reacquisitions and targeted net cost efficiencies between $10 million and $15 million. The company stated it has sufficient capital and projected future cash flows to fund the entire growth strategy through 2030, including the Sports Direct rollout, TAF acquisition and base business growth.
For investors, the plan demonstrates management’s intent to drive earnings accretion across multiple channels rather than relying on comparable sales growth alone. The near-term EBIT improvements visible in FY27, totaling between $32 million and $37 million in gross initiatives, should provide visibility on execution capability. Investors should monitor capital discipline around the Sports Direct expansion and whether the company achieves its cost savings targets, as these will largely determine whether the 2030 targets prove achievable. This announcement is price sensitive and has been flagged as material by the ASX.
View the full ASX announcement (PDF)
About Accent Group Limited (ASX: AX1)
Accent Group Limited is a retail and distribution company that operates lifestyle footwear, apparel, and accessories stores across Australia and New Zealand. The company manages approximately 903 stores operating under 18 different retail banners and holds distribution rights for 12 international brands including Skechers, Vans, Timberland, UGG, and Dr. Martens. It serves as a major retailer and distributor of branded footwear and fashion products in the Asia-Pacific region.
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