The other thing that is going on is the Amazon effect. While other retailers are being sold down because of the threat of competition from Amazon, Accent Group have exclusive distribution contracts in Australia, so Amazon can't compete on the same brand basis. Amazon can undercut on alternate brands, but branding in fashion is just about everything. So, capital comes out of SUL, JBH, MYR etc and gets put into AX1 pushing the SP up. Lucky enough the SP is also underpinned by strong earnings growth.
AX1 Price at posting:
$1.52 Sentiment: None Disclosure: Held
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