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How did the Accent (ASX:AX1) share price respond last earnings season?

Accent Group is set to deliver its full 2021 financial year results tomorrow.
The post How did the Accent (ASX:AX1) share price respond last earnings season? appeared first on The Motley Fool Australia. –

The Accent Group Ltd (ASX: AX1) share price is up 0.42% in afternoon trading.

Meanwhile, the S&P/ASX 200 Index (ASX: XJO) is sliding, down 0.77%.

The Accent share price is under the microscope today as the ASX 200 retail share prepares to deliver its full 2021 financial year results tomorrow.

So, how did shares perform following the release of its FY20 results? We take a look at those results, and the Accent share price moves that followed, below.

What results did Accent Group report for FY20?

Accent’s share price gained 3.3% on 27 August 2020, the day the company released its FY20 results.

Here are some key numbers the retailer and distributor of performance and lifestyle footwear reported last year:

Total sales increased 1.5% year-on-year to $948.9 million.
Earnings before interest, taxes, depreciation and amortisation (EBITDA) increased by 11.8% to $121.7 million.
Net profit after tax (NPAT) increased 7.5% year-on-year to $58 million.
Announced a final dividend of 4 cents per share, fully franked.

During FY20, Accent Group shuttered 12 stores while opening 57 new ones.

With COVID-19 seeing many bricks and mortar stores forced to close during the latter half of the 2020 financial year, Accent’s online sales were a star performer. The company’s digital sales increased 69% year-on-year, reaching 17% of its total sales.

As you’d expect, fourth quarter sales (1 April through to 30 June 2020, when much of Australia was in lockdown), was when the company’s digital sales really took off. In Q4 FY20 Accent’s digital sales leapt 142%, reaching 35% of the Group’s total sales.

The retailer also reported that half of its online customers in Q4 had never shopped in one of its stores before.

How has the Accent share price moved since releasing its FY20 results?

The day before reporting its FY20 results, the Accent share price closed at $1.66. At today’s $2.40 per share, that represents a more than 40% gain.

Year-to-date, Accent shares have been up and down, currently up 1.69% for 2021.

The post How did the Accent (ASX:AX1) share price respond last earnings season? appeared first on The Motley Fool Australia.

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More reading

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Accent (ASX:AX1) share price down 7% on broker downgrade

The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has recommended Accent Group. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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