Australia's Accent Group soars as FY24 outlook beats consensus estimate
** Shares of Accent Group AX1.AX rise as much as 10.2% to A$2.16, set for their best day since late-August 2023, if gains hold
** Co among top gainers in ASX All Ordinaries Index .AORD
** The footwear retailer says it expects FY24 earnings before interest and tax excluding charges incurred by closing underperforming stores of its Glue Store business to be between A$123.2 million ($82.83 million) and A$125.2 million
** The forecast beats a Visible Alpha consensus of A$117.8 million, according to UBS
** Co says trading conditions across group in H2 Fy24 improved over H1
** "Closing underperforming Glue stores improves future profitability," analysts from UBS say
** Shares hit highest since late February
** Stock has marginally risen this year, as of last close
($1 = 1.4874 Australian dollars)
Reporting by Archishma Iyer
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