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RCG full-year net profit slips 2.6 pc to $29.2m after its Hype write-down

August 29, 2017 | Australian Financial Review

Footwear retailer RCG Corp is aiming to beat Amazon at its own game by using its network of stores to deliver online orders within three hours and give consumers access to its entire catalogue.

Australia’s largest footwear chain has brushed aside concerns that Amazon’s expansion will crimp sales and margins at stores such as Hype DC, The Athletes Foot and Platypus Shoes.

“The key initiatives around how you deal with Amazon is a multi-channel strategy – click and collect, click and despatch, endless aisles and three-hour delivery,” RCG’s co-chief executive Hilton Brett said on Monday after delivering the fifth consecutive year of double-digit underlying earnings growth.

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