Accent Group bets on Sports Direct rollout, buys back Athlete's Foot franchises after 40% profit drop
Accent Group plans to scale Sports Direct to 50-100 Australian stores by 2030, targeting 950 total stores and $1.5B in sales. It will spend $50M to buy back ~30 Athlete's Foot franchises for a $14M earnings uplift, while cutting $30M in costs after a 40% H1 profit decline.
Accent Group plans to scale Sports Direct to 50-100 Australian stores by 2030, targeting $1.5B sales and 950 total stores. It will spend $50M buying back ~30 Athlete's Foot franchises and cut $30M in costs after a 40% profit drop.