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Accent Group (AX1)

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Accent Group (AX1)

Greetings gentlemen, I would appreciate your thoughts on Accent which seems to be recovering well after Covid pressures. There has been a flurry of buying over the past week in anticipation of the late August FY results. The comprehensive stock report reads well [to me] and most brokers have a buy on the stock and the current dividend is not too shabby! Enjoy the Saturday chats - keep up the good work! Graham

Answer

Hi Graham,

For subscribers not familiar with AX1, its a $1.2bn footwear and apparel company which operates close to 800 stores and approx. 35 Websites  for 17 international brands across Australia and New Zealand. The Company’s banners and brands include:

  • The Athlete’s Foot (TAF), Platypus Shoes, Hype DC, Skechers, Merrell, CAT, Vans, Dr. Martens, Saucony, Timberland, HOKA, Superga, Kappa, Palladium, Supra, Subtype, The Trybe, Stylerunner, Glue Store, Autry, and UGG.

With rate cuts on the horizon the big question is whether we see a recession, the reason equities have struggled this week. With an estimated fully franked yield in excess of 6% still looks solid if the RBA can steer our economy in the correct direction but the risk/reward is not overly exciting above $2.

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Accent Group Ltd (AX1)
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