BUZZ-Australia's Step One Clothing falls as Bell Potter trims PT

Reuters
Jul 28, 2025
BUZZ-Australia's <a href="https://laohu8.com/S/STPCF">Step One Clothing</a> falls as Bell Potter trims PT

** Shares of Step One Clothing STP.AX fall 2.1% to A$0.685

** Bell Potter trims price target to A$1.25 from A$1.3, maintains "buy" rating

** Brokerage also downgrades revenue forecasts for the online retailer by 2% for fiscals 2026 and 2027

** Bell Potter says co's FY trading update was exemplary of the current retail environment; still recording modest sales growth, however giving up gross margin to get it

** Flags FY25 EBITDA expectation was a miss, down 4% from last year vs brokerage estimate of a 1% increase

** Bell Potter continues to view stock as an attractive buying opportunity and believes it continues to trade subdued given prolonged macroeconomic concerns on the consumer

** Stock down 45.4% YTD, including the day's moves

(Reporting by Nikita Maria Jino in Bengaluru)

((Nikita.Jino@thomsonreuters.com;))

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