Australia's Step One Clothing hits near two-year low on bleak outlook

Step One Clothing

20/08/2025 03:24

** Shares of Australia's Step One Clothing STP.AX fall as much as 44.5% to A$0.38, their biggest intra-day pct gain since May 16, 2022

** Stock hits its lowest level since August 22, 2023

** The innerwear manufacturer says it expects earnings performance to moderate in the near term

** Sees FY26 EBITDA in the range of A$10 million ($6.45 million) to A$12 million vs EBITDA of A$17.4 million in FY25

** Stock last down 58.73%, bringing YTD losses to 59.1%

($1 = 1.5501 Australian dollars)

 (Reporting by Shruti Agarwal in Bengaluru)

 ((Shruti.Agarwal@thomsonreuters.com))