Accent Group First Take: FY30 Strategic Plan

Accent Group (AX1.AX) has introduced an FY30 strategic plan targeting A$1.9b+ in sales and 9%+ EBIT margins, driven by cost-efficiencies and a strategic tilt toward the sports category.

Key Takeaways

• 1.Management's FY30 framework targets A$1.9b+ sales and a 9%+ EBIT margin, significantly higher than market consensus expectations of 6.9%.
• 2.A A$40m gross cost-out program is planned for FY27 and FY28, expected to deliver a net impact of A$15-20m through operational efficiencies.
• 3.Sports Direct early performance shows momentum, with sales doubling in four months and a long-term target of 21% ROI.

Table of Contents

• Key Points
• Price Target Risks and Methodology - Accent Group
• Disclosure Appendix
• GS Factor Profile
• M&A Rank
• Quantum
• Disclosures
• Company-specific regulatory disclosures
• Distribution of ratings/investment banking relationships
• Price target and rating history chart(s)
• Target price history table(s)
• Regulatory disclosures
• General disclosures

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