Accent Group is hoping for a more prosperous year this year after suffering from the lock downs that have plagued retailers around the country. Accent Group is the owner of a large stable of footwear brands and is the biggest footwear retailer in the country. Their brands include Platypus, Skechers, The Trybe, Stylerunner, Glue and Pivot. They have a network over over 350 stores across the country and these have been severely hit with the lockdowns that have occurred down the east coast, the busiest retail markets.
The lock downs have mean that inventory levels are increasing to an uncomfortable level and as such, Accent Group have been discounting heavily to reduce their inventory holdings. They are currently holding around $30 million worth of excess inventory. The start of the year has been especially hard with lockdowns causing revenue to drop by $15 million representing like for like sales fall of 16 per cent.
It is expected that when stores finally are able to open again, sales will bounce back up from the pent up demand however with the high cases of Coronavirus being detected, it seems to only way to get there is a high vaccination rate.
This year has not been as positive for Accent Group as it does not have the same support as it did last year with job keeper from the government and rent reductions from landlords.
Accent Group are doing their best to push customers onto their online stores. Playtpus Shoes is doing great trade with Platypus online. You can also save with a Platypus discount code when you shop.