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RCG says ‘insatiable appetite’ for sneakers driving sales

August 27, 2015 | Sydney Morning Herald

Footwear retailer RCG says an “insatiable appetite” for sneakers will drive double-digit sales and 150-per cent plus earnings growth this year as it steps into new categories after the $203 million acquisition of Accent Group.

RCG expects earnings before interest tax depreciation and amortisation to reach $55 million to $57 million in 2016 – more than double underlying EBITDA of $21.8 million in 2015 – fuelled by strong sales of existing brands such as Sperry and Saucony and new brands including Vans, Dr Martens and Skechers.

“If you look around the world all the young people are wearing on their feet is sneakers – there’s an insatiable appetite to satisfy them,” RCG chairman Ivan Hammerschlag told investors on Thursday.

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