Impact from challenging retail conditions: Footwear retailer, RCG Corporation’s stock slipped 4.5% on September 08, 2017 as the stock traded ex-dividend. The group has been removed from the S&P/ASX All Australian 200 Index effective September 18, 2017. In August 2017, the group had reported about challenging retail trading conditions that have continued since February 2017. The group’s sales performance across all business units for the months of March and April combined was below management’s expectations. For FY17, bottom line profit dropped 2.6% to $29 million after RCG wrote down the brand value at Hype by $9.7 million. On the other hand, the Athlete’s Foot’s LFL sales for the year-to-date was in line with the prior year performance. There was 79% growth in total online sales during FY2017. RCG declared a fully franked final dividend of 3.0 cents per share and expects its dividend payout ratio to be between 75% and 80% of underlying EPS for FY2018. The group has not commented on future performance at the back of volatile scenario. However, RCG is ramping up investment in digital with the aim of lifting online sales to 15% of total sales within three years.

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