Fashion Retail Giant Announces Closure

Accent Group has announced the impending closure or sale of its remaining Glue Store locations. This decision follows the earlier closure of 17 Glue Stores in mid-2024 and is attributed to financial difficulties within the business.

Financial Loss Forces Store Closures

On Thursday, the fashion retail conglomerate reported a significant loss of $8.4 million over a six-month period. This prompted the decision to shut down or sell the last 16 Glue Stores by July 2026.

Background on Glue Store

Glue Store first opened its doors in Melbourne in 1999, providing a range of apparel and footwear from major brands. Notable products include offerings from Adidas, Nike, and Levi’s.

Accent Group’s Broader Performance

While Glue Store is facing challenges, Accent Group’s overall revenue has risen by 5.3% to reach $816.9 million in the second half of 2025, compared to the same period in 2024. The company also operates other well-known brands such as Athlete’s Foot, Platypus, and Hype DC, along with Ugg, Skechers, and Vans.

Strategic Changes and Future Plans

Despite the setbacks with Glue Store, Accent Group remains optimistic. They recently launched Sports Direct in Melbourne, which began operations in November 2025. Since July 2025, the company has opened 27 new retail locations and plans to unveil an additional 40 stores shortly.

Market Challenges

Lawrence Myers, chair of Accent Group, acknowledged the hurdles faced during critical retail seasons like Black Friday and Christmas. However, he expressed encouragement regarding the early performance of Sports Direct and the progress of their broader growth strategy.

Conclusion

The decision to exit the Glue Store business is part of a larger restructuring effort. The last remaining locations are expected to close by the end of the financial year, marking a significant shift in Accent Group’s retail offerings.