Financial Growth: Step One Clothing Limited reported a notable financial performance for the first half of the fiscal year 2024, with revenue increasing by 25.5% to $45.1 million compared to the prior corresponding period (pcp), and EBITDA growing by 35.6% to $10.1 million. This growth underscores the company's successful execution of its profitable growth strategy.
Operational Highlights: The company maintained a robust gross margin of 81.2%, reflecting a slight improvement from the previous year. Additionally, the Average Order Value (AOV) saw an increase of 4.7%, reaching $94.47. Customer growth was significant, with over 1,540,000 global customers, including 182,000 new customers added during the period, marking a 33% growth over the pcp.
Strategic Developments: Step One's strategic marketing initiatives and investments in AI for marketing operations have significantly contributed to its customer base expansion and operational efficiencies. The company's women's range accounted for 13% of total revenue, indicating a diversification in product demand.
Expansion and Partnerships: The company's diversification strategy included expanding sales channels and forming strategic partnerships, notably with Amazon and John Lewis in the UK, enhancing brand credibility and reach. Additionally, a partnership with Surf Life Saving Australia aligns with the company's values and aims to extend its customer reach.
Dividend Announcement: Reflecting confidence in its business model and financial health, Step One announced an interim dividend of 4 cents per share, fully franked, indicating a commitment to returning value to shareholders while maintaining growth capacity.
This announcement is a summary of the company approved ASX announcement on 20/2/2024 and is based on facts.