Today 26.5cps ..Ouch

https://hotcopper.com.au/threads/ann-1h26-trading-update.8922100/

ASX Announcement 4 December 2025 :

Step One Clothing Limited 1H26 Trading Update Step One Clothing Limited (ASX:STP) (“Step One” or “the Company”), a leading online, direct-to-consumer innerwear brand, today provides the following trading update for the first half of FY26 (1H26). Based on year-to-date trading, including estimates for December, Step One expects its 1H26 financial results to fall within the following ranges:

• 1H26 revenue is expected to be between $30 million and $33 million, which represents a decline of between 31% to 37% on the prior corresponding period (1H25: $48.1 million)

• 1H26 EBITDA is expected to be a loss of between $9 million and $11 million (1H25: $11.3 million profit), including a $10 million provision for inventory obsolescence

The recent sales results were materially below expectations, and our efforts to clear older and slower moving inventory were not successful. As a result, the Company has raised a $10 million obsolescence provision against this legacy stock. This inventory is now fully provisioned, and no further material provisions are anticipated at this stage.

The combined impact of softer sales and this one-off inventory provision has led the Company to reassess its full-year outlook. As the implications of these factors are still being evaluated, the FY26 EBITDA guidance previously provided is withdrawn, and no updated guidance will be issued at this stage. 

The Company will update the market once greater visibility over trading and inventory outcomes is available. These estimates are preliminary and subject to trading conditions over the remainder of the reporting period, including pre- and post-Christmas sales, foreign exchange movements, and logistics timings.

The financial results remain subject to auditor review. Step One plans to report its 1H26 financial result on 18 February 2026.

-ENDS

This announcement was authorised for release by the Board of Step One Clothing Limited.

Return (inc div)   1yr: -81.16%   3yr: 8.08% pa   5yr: N/A

STP - The 5 year life of STP = from pre -profit , profit, now less Profit

FY25 Overview Step One continues to deliver strong financial results. The highlights include: ■ Revenue: $86.9 million, up 2.8% on pcp (FY24: $84.5 million) ■ EBITDA: $17.4 million, down 3.9% on pcp (FY24: $18.1 million) ■ Net profit: $12.7 million, up 2.0% on pcp (FY24: $12.4 million) ■ Cash and financial assets: $33.1 million and no debt Throughout the year, we adapted quickly to challenging market conditions, using promotional periods strategically to align with consumer behaviour and managing our advertising spend efficiently. While average order value grew, gross margins were impacted by the increased promotional activity required to maintain market share in a tough environment

Cash and cash equivalents at the end of the financial year 9 18,140 28,952  

STP a wealth destroyer - So see how the STP strategy goes now... and the investor Buy, Hold , Sell..!

Return (inc div)   1yr: -58.37%   3yr: 31.27% pa   5yr: N/A

Market reaction down 9%

STEP ONE CLOTHING LIMITED (ASX:STP) - Ann: Greg Taylor Partial Share Sale, page-1 - HotCopper | ASX Share Prices, Stock Market & Share Trading Forum

Step One Clothing Limited Greg Taylor Partial Share Sale Step One Clothing Limited (ASX:STP) (“Step One” or “the Company”), a leading online direct-to-consumer innerwear brand, confirms that an entity associated with Mr. Greg Taylor, Founder and CEO, has agreed to sell down 16,632,352 fully paid ordinary shares in the Company, representing approximately 8.97% of its issued capital.

Mr. Michael Reddie, Director and Chief Legal Officer, has agreed to sell down 2,014,206 fully paid ordinary shares in the Company, representing approximately 1.09% of its issued capital.

The sales were undertaken at a price of $1.70 per ordinary share through a fully underwritten block trade. Following this sale, Mr. Taylor will retain approximately a 57.91% shareholding in the Company, remaining Step One’s largest shareholder.

Mr Taylor has reiterated his commitment to Step One as its Founder and CEO, and his intent to remain a substantial, long-term shareholder. Mr Taylor and Mr Reddie have agreed to escrow their remaining shares until the release of the Company’s full year results for the financial year ending 30 June 2025

STP trades up 17% this arvo

Step One plans to report its 1H24 financial result on 20 February 2024. 

ESG and what about the carbon credits..

Share price stepping up Nice.. As long as this price avoids the 'elevator' on the way down well it should be ok here.

Price reaction up 11% this morning