Hi Astaire,
it may have something today with their customer profile.
Until recently, these young customers were the ones who were supporting consumption.
Interesting to remind what the company said after their H1 results :
"Many of our brands target a younger customer demographic who tend to be les impacted by interest rates and cost of living pressures".
But it has suddenly changed during the period Jan-March 23, as it has been shown by a recent study from CBA.
Study of CommBank ID on the topic of consumption per age group.
Most interesting is probably the chart page 6, giving the yoy spending change per age group*.
https://www.commbank.com.au/content/dam/caas/newsroom/docs/CommBank%20iQ%20Cost%20of%20Living%20Report%20May%202023.pdf
As Accent has not made a profit warning, difficult to know if they followed the same pattern.
The main question is probably whether their inventory level is now high or not. Historically, we know that it has been one of their main skills.
Hi Astaire,it may have something today with their customer...
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