Accent (ASX:AX1) share price on watch after strong trading update

The Accent Group Ltd (ASX: AX1) share price could be on the move today after the release of a trading update ahead of its annual general meeting.

How is Accent performing in FY 2021?

This morning the footwear retailer revealed that its sales for the first 20 weeks of FY 2021 are well ahead of its expectations.

According to the release, Accent’s like for like sales are up 15.7% over the period excluding its Auckland and Victorian stores.

In respect to its Auckland and Victorian stores, the company estimates that their closures have impacted its sales by $39 million compared to the prior corresponding period. Based on this, total like for like sales were up 1.3% over the 20 weeks.

Accent’s Digital business has continued its…