Accent Group, whose brands include the Hype and Platypus shoe chains, says like-for-like sales continued in negative territory in the first 19 weeks of the new financial year, with trade at its own retail doors holding up, but sales to wholesalers slowing due to softer demand from shoppers.

Same-store sales, including The Athlete’s Foot franchises, digital sales and Glue stores, have fallen 2 per cent so far this year – slightly deteriorating from the 1.8 per cent fall it reported in the first seven weeks. This sent the stock tumbling 10 per cent lower to $1.90 in early trade on Friday since it was lower than the prediction of some analysts, although it was better than consensus for a 3 per cent fall.