The Accent Group Ltd (ASX: AX1) share price is on watch today following the release of the company’s full year financial results.

Accent Group is a retailer and also a distributor of performance and lifestyle footwear. The group has over 500 stores across Australia and New Zealand. Accent has exposure to the fast growing active footwear market through brands that include Hype DC, Platypus, and The Athlete’s Foot.

Modest overall growth in challenging market conditions

Investors will be watching the Accent share price this morning after the company revealed total sales reached $948.9 million for the 12 months to 20 June 2020. That’s up 1.5% on the prior 12 month period. Earnings before interest, taxes, depreciation and amortisation (EBITDA) grew more strongly, up by 11.8% during the year to $121.7 million. Meanwhile, EBIT for Accent was up by 8.2%, while net profit after tax (NPAT) came in at $58 million. That was an increase of 7.5%.

Within the core retail market, major brands including Platypus, Hype DC, Skechers, Vans as well as Dr Martens recorded gross margins more or less in line with the prior year.

The Accent Group opened 57 new stores during the 12 month period, while 12 stores were closed. Sales in vertical product and brands gained strong momentum. They rose to $13 million, more than double the prior year.

The group announced a final dividend of 4.0 cents per share fully franked.

Online sales for Accent surge by 69%

The real winner for Accent during the last 12 months has been its online channel.

Total digital sales for FY 2020 climbed by 69% on the prior year. They now represent 17% of total sales for Accent. This is quite significant for a mainstream bricks and mortar retailer in Australia.

It was during the fourth quarter when digital sales really soared for Accent due to the coronavirus pandemic restrictions. During this final quarter for FY 2020, online sales grew by a massive 142% and represented 35% of all sales. Over 50% of online customers in the fourth quarter had never shopped at Accent Group before.

Accent Group CEO, Daniel Agostinelli, said “Given the challenging environment, we are pleased to report that Accent Group has delivered another record year. …. Key to this result was the integrated digital capability the Company has built over the last 3 years, which enabled us to connect with our customers and shift our channel mix from stores to digital when all stores were closed in April. Driven by this strong digital growth, retail sales, gross profit and resultant operating profit in May and June were significantly ahead of the prior year..”

Digital channel leads growth strategy for FY 2021 and beyond

Accent has an ambitious growth plan in place targeting at least 30% of sales to be delivered by the digital channel. During FY 2021, the group has in its pipeline the opening of 30 to 40 new stores. The Pivot brand in particular will see strong expansion, with the rollout of 12 new stores and an emphasis on growing online sales.

In a trading update, Accent noted that like-for-like retail sales across Australia and New Zealand grew by 1.3% during the first 8 weeks of FY 2021.

The Accent share price closed yesterday at $1.66.

More reading

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• How will Victoria’s stage 4 lockdowns impact ASX shares?

Motley Fool contributor Phil Harpur has no position in any of the stocks mentioned. The Motley Fool Australia has recommended Accent Group. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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The Afterpay Ltd (ASX: APT) share price will be in focus today following the release of the payments company’s full year results for FY 2020.

How did Afterpay perform in FY 2020?

Afterpay was an exceptionally strong performer in FY 2020 and delivered further explosive growth in sales and customer numbers.

For the 12 months ended 30 June 2020, Afterpay delivered a 112% increase in underlying sales to $11.1 billion. This comprises underlying sales of $6.6 billion in the ANZ market, $0.6 billion in the UK market, and $4 billion in the US market. The latter was up a whopping 330% on the prior corresponding period.

Based on its fourth quarter trading, Afterpay ended the period with an underlying sales run rate of $15 billion.

This strong result was driven by increased repeat usage and a 116% lift in active customers to 9.9 million. ANZ customers grew 18% to 3.3 million, UK customers reached 1 million, and US customers increased 219% to 5.6 million. The latter now contributes 56.5% of its total customers. In respect to repeat usage, approximately 90% of underlying monthly sales are coming from repeat customers.

Also supporting its growth was an increase in its active merchants. There are now 55,400 active merchants on the Afterpay platform, up 72% year on year. This comprises 42,800 merchants in the ANZ market, 11,500 in the US, and 1,100 in the UK.

What about its profits?

Over the 12 months, Afterpay reported a 97% increase in total income to $519.2 million and a 73% lift in earnings before interest, tax, depreciation and amortisation (EBITDA) of $44.4 million.

This was supported by a 24% improvement in its gross loss as a percentage of underlying sales to 0.9%. Management notes this represents a historic low, which was achieved despite the uncertain economic conditions and higher contributions from newer markets.

Also of note was that its late fees are contributing less to its total income. In FY 2020 they contributed under 14% of total income, down from 19% in FY 2019 and 24% in FY 2018. Late fee revenue now represents 0.6% of underlying sales, which the company feels is validating its inbuilt customer protections and budget-focused and differentiated business model.

On the bottom line, the company posted a statutory loss after tax of $22.9 million. This statutory loss includes the impact of significant items (including one-off items, Share-Based Payments, Net Loss on Financial Liabilities at Fair Value, Share of Loss of Associate, and foreign currency gains) which totalled $20 million on a pre-tax basis.

FY 2021 update.

Management revealed that its strong fourth quarter performance has continued into FY 2021 across all regions.

It notes that online sales in the ANZ market accelerated into July and August. Furthermore, the recent on-boarding of large scale, new vertical merchants in ANZ is expected to deliver continued growth into FY 2021.

The company also advised that US underlying sales in July continued at the record levels experienced in the fourth quarter and customer acquisition has remained strong.

Over in the UK, merchant acceptance has continued strongly since 30 June, with 450 additional active merchants added to the platform.

Global expansion.

Management advised that the company has launched into Canada this month as planned, extending its prominent US market position across North America.

As was announced earlier this week, its acquisition of European-based Pagantis will facilitate the expansion of the Clearpay business into multiple European markets in FY 2021.

And the company has set its sights on the Asian market. It is exploring opportunities in select Asian markets this year. An in-region team will be established via a small acquisition of a Singapore-based company operating in Indonesia – EmpatKali. It is also looking to leverage Tencent’s network and relationships to expand into these markets. Tencent is the owner of WeChat and a major Afterpay shareholder.

More reading

• 5 things to watch on the ASX 200 on Thursday
• Top brokers name 3 ASX 200 shares to buy today
• If you invested $10,000 into Zip shares in March, here’s how much you’d have today
• How to boost your share market gains
• Flexigroup share price in trade halt ahead of capital raise

Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia owns shares of AFTERPAY T FPO. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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The Commonwealth Bank of Australia (ASX: CBA) share price is one to watch this morning after ASIC dropped a key investigation into the Aussie bank.

What did CBA announce?

CBA was notified that the Aussie corporate cop had dropped its investigation into the bank over its AUSTRAC scandal.

The proceedings, commenced by the Australian Transaction Reports and Analysis Centre (AUSTRAC) in August 2017, alleged money laundering breaches by the bank.

However, ASIC has concluded its investigations and will take no action against CBA or its directors.

That’s good news for the CBA share price which could be on the move in early trade following the update late yesterday.

What does this mean for the CBA share price?

The AUSTRAC scandal has weighed on CBA for three years now and this latest update does provide some closure.

I think it’s good news for the CBA share price with less uncertainty facing the bank and its shareholders.

On top of that, no penalties means investors aren’t worried about the potentially huge liability hanging over future profits. The bank settled the AUSTRAC case for a record $700 million penalty in June 2018.

In turn, I would expect the CBA share price to climb higher in early trade barring any broader negative market factors.

It also is a big tick for the bank as it continues to fight a class action from shareholders.

A group of investors are seeking damages due to alleged failure to disclose material information. That includes allegations CommBank failed to inform shareholders it was potentially exposed to AUSTRAC enforcement action.

How has CBA performed in 2020?

It’s been a rollercoaster of a year for the bank’s investors. The CBA share price is down 12.8% in 2020 with even bigger falls seen among its big four bank peers.

Meanwhile, the S&P/ASX 200 Index (ASX: XJO) is down 8.6% to 6,116.40 points.

More reading

• 5 things to watch on the ASX 200 on Thursday
• ASX 200 drops 0.7%, Zip rises 27.5%
• ASX giants say cutting staff hours will save jobs
• What’s sent WiseTech’s share price up 36% so far in August
• Hydrix and Zip were among the most traded shares on the ASX last week

Motley Fool contributor Ken Hall has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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I continue to believe that the best way for investors to grow their wealth is to invest in quality companies with strong business models and growth prospects.

However, rather than trading in and out of them, I believe a long term focus should be taken. This is because by doing things this way, investors can benefit from compound interest.

Compound interest is what happens when you reinvest interest, instead of paying it out. It explains why a $20,000 investment generating a 10% return per annum will be worth $22,000 in one year and then ~$52,000 in 10 years.

With that in mind, I thought I would look at shares which I believe could provide outsized returns for investors over the next decade and beyond.

Three that I believe can achieve this are listed below. Here’s why I would buy them:

Appen Ltd (ASX: APX)

The first ASX share to consider buying is Appen. It is a leading developer of high-quality, human annotated datasets for the machine learning and artificial intelligence (AI) markets. Due to the importance of machine learning and AI for businesses and governments, spending on these markets is expected to grow materially over the next decade. This bodes well for Appen due to its strong market position and long track record of working with tech giants such as Apple, Facebook, and Microsoft.

CSL Limited (ASX: CSL)

I think CSL would be a fantastic buy and hold option for investors. This is due to the quality and strength of the biotherapeutics company’s CSL Behring and Seqirus businesses. I believe their life-saving therapies and vaccines, expansive plasma collection network, and lucrative research and development pipelines have positioned CSL perfectly for long term growth. 

NEXTDC Ltd (ASX: NXT)

Another top option to consider buying is NEXTDC. It is an innovative data centre operator which has a collection of world class centres in key locations across the country. Demand for its services has been growing very strongly in recent years, underpinning solid earnings growth. Pleasingly, with demand expected to continue growing at a rapid rate for some time to come due to the cloud computing boom, I expect more of the same from NEXTDC over the next decade.

More reading

• 5 things to watch on the ASX 200 on Thursday
• Hydrix and Zip were among the most traded shares on the ASX last week
• 3 big surprises from the CSL full year results
• 2 top ASX tech shares to buy in September
• 3 ASX shares that could give investors a stock split in 2020

James Mickleboro owns shares of NEXTDC Limited. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of CSL Ltd. The Motley Fool Australia owns shares of Appen Ltd. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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Aussie investors may be wondering what the best exchange-traded fund (ETF) is to buy for a long-term investment.

There are lots of different options to consider like iShares S&P 500 ETF (ASX: IVV), Vanguard Diversified High Growth Index ETF (ASX: VDHG), Vanguard MSCI Index International Shares ETF (ASX: VGS) and BetaShares Australia 200 ETF (ASX: A200).

Each of the above options has their positives and negatives. The diversified Vanguard ETF makes things easy for investors wanting diversification. But do investors need bonds now, particularly with how low interest rates are?

iShares S&P 500 ETF and BetaShares Australia 200 ETF both offer cheap ways to access the US and Australian share markets. But they offer exposure to just one country’s share market.

The Vanguard MSCI Index International Shares option offers good diversification. It owns over 1,500 businesses. It’s invested across the world and the management fee is very reasonable for what it does. But the problem is that it’s invested in plenty of businesses which are only delivering mediocre performance. That may explain why the returns over the past five years have been pretty disappointing at just 8.2% per annum – much lower than some other ETFs.

My preferred ETF pick is:

BetaShares Global Quality Leaders ETF (ASX: QLTY)

This ETF is invested in 150 high quality businesses from across the world. Yes, around two thirds of the ETF is invested in US shares – but the other third is spread across the world in places like Japan, Switzerland, France, Denmark, Hong Kong, the UK, Spain, Finland and so on.

It’s not invested in uninspiring businesses. To get into the holdings list, companies have to have a high return on equity, cash flow generation ability, low leverage and earnings stability. If a business can do well on all of these metrics then its bottom line (and shareholder returns) should hopefully be pretty good.

Returns

BetaShares Global Quality Leaders ETF was created in November 2018, it has produced net returns of 18.8% per annum since then. That sounds good to me considering its global composition. That performance has occurred despite COVID-19 impacts. 

Holdings

It’s not just full of tech shares. Around a third is IT businesses, but more than a quarter of it is invested in healthcare shares and there is decent representation by industrials, communication services and consumer discretionary too.

So, what shares make it into this ETF’s holdings? Some of the largest positions include: Apple, Nvidia, Accenture, Adobe, Facebook, Intuitive Surgical, L’Oreal, Intuit and Cisco Systems.

Costs

You’d probably have to pay at least 1% per annum for an active manager. This ETF costs just 0.35%, which is cheap compared to actively managed funds. The lower the costs the higher the net returns for investors.

Income potential

The dividend yield isn’t shabby either. According to BetaShares, the 12-month distribution is 2.5%. That’s materially more than the S&P 500 at the moment. Some of the big US tech shares just don’t pay dividends. 

Other thoughts

I think that BetaShares Global Quality Leaders ETF has the ability to outperform other global benchmark share indices for a very reasonable annual management fee cost.

‘Quality’ businesses can’t always guarantee good shareholder returns. However, the economic advantages that they have could mean the ETF falls less when the share market falls. Indeed, BetaShares says that the fund’s index of quality companies has historically exhibited reduced declines during market falls, when compared to the MSCI World Index.

I think I’d sleep better knowing that my portfolio was full of quality businesses rather than lower quality businesses. This ETF has proven to be a good performer. I really like it. 

Foolish takeaway

I think BetaShares Global Quality Leaders ETF could be the best ETF to own for the long-term for its focus on strong economic metrics, the global diversification it offers and the low cost.

More reading

• This share platform forces you to invest long-term
• Is iShares S&P 500 ETF the best long-term investment?
• 2 ASX shares to buy for growth and income
• 2 of the best ETFs for investing in ASX shares
• Here’s how much money you can actually make from investing in ASX shares

Motley Fool contributor Tristan Harrison has no position in any of the stocks mentioned. The Motley Fool Australia has recommended Vanguard MSCI Index International Shares ETF. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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It certainly was a busy day of results releases on Wednesday, with results being unveiled from the likes of Bravura Solutions Ltd (ASX: BVS) and Cleanaway Waste Management Ltd (ASX: CWY).

In light of the large number of releases, a few may have understandably slipped under the radar. Here are two ASX results you might have missed:

National Storage REIT (ASX: NSR)

The National Storage share price traded largely flat on Wednesday despite overcoming the pandemic to deliver solid earnings growth. The self-storage giant posted a 9% increase in underlying earnings to $67.7 million over the 12 months. This was driven partly by its growth through acquisition strategy. National Storage completed 22 acquisitions totalling $218 million in FY 2020.

The company declared a final distribution of 3.4 cents per share, bringing its full year distribution to 8.1 cents per share. A similar distribution is expected next year, with management advising that it intends to pay out 90% to 100% of its earnings per share. It is guiding to earnings of 7.7 cents to 8.3 cents per share in FY 2021.

Regis Resources Limited (ASX: RRL)

The Regis share price dropped lower yesterday despite reporting a record full year net profit for FY 2020. The gold miner delivered a 16% increase in revenue to $757 million from 353,182 ounces of gold sold at an average price of $2,200 an ounce. And thanks to the widening of its margins, Regis’ net profit after tax grew at the even quicker rate of 22% to $200 million.

This allowed the board to declare a final fully franked dividend of 8 cents per share, bringing its full year dividend to 16 cents per share. This represents a ~3% yield based on the current Regis share price. Looking ahead, Regis expects its production to increase from 352,042 ounces to between 355,000 and 380,000 ounces in FY 2021. This is expected to be achieved at an all-in sustaining cost (AISC) of $1,230-$1,300 an ounce. This compares to an AISC of $1,246 an ounce in FY 2020.

More reading

• 2 quality ASX dividend shares to buy
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• Why is Aussie gold producer Medusa’ Mining’s share price skyrocketing?
• Why I would buy CBA and this ASX dividend share for income
• Warren Buffett is buying gold shares and top fundies assess ASX share price moves

Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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On Wednesday the S&P/ASX 200 Index (ASX: XJO) was out of form and tumbled notably lower. The benchmark index fell 0.7% to 6,116.4 points.

Will the market be able to bounce back from this on Thursday? Here are five things to watch:

ASX 200 expected to rebound.

It looks set to be a much better day of trade for the ASX 200 on Thursday after stocks on Wall Street surged higher overnight. According to the latest SPI futures, the benchmark index is expected to rise 16 points or 0.25% higher at the open. In the United States the Dow Jones rose 0.3%, the S&P 500 jumped 1%, and the Nasdaq stormed a massive 1.7% higher. The latter could mean local tech shares have a strong day.  

Oil prices jump.

Energy producers Beach Energy Ltd (ASX: BPT) and Woodside Petroleum Limited (ASX: WPL) will be on watch after a mixed night for oil prices. According to Bloomberg, the WTI crude oil price is up 0.2% to US$43.43 a barrel but the Brent crude oil price is down 0.4% to US$45.68 a barrel. A storm in the United States boosted the WTI price, but concerns over demand weighed on the Brent price.

Woolworths result.

Second time lucky. The Woolworths Group Ltd (ASX: WOW) share price is scheduled to report its full year results today (not on Wednesday). A strong result is expected from the conglomerate due largely to the strength of its key supermarkets business during the pandemic. According to CommSec, the market is expecting a net profit after tax of $1.34 billion.

Gold price jumps.

Gold miners including Evolution Mining Ltd (ASX: EVN) and Saracen Mineral Holdings Limited (ASX: SAR) could be on the rise today after the gold price strengthened. According to CNBC, the spot gold price is up 2% to US$1,961.70 an ounce. Traders were buying the precious metal amid hopes of central bank stimulus.

Afterpay and Appen results.

Two market darlings Afterpay Ltd (ASX: APT) and Appen Ltd (ASX: APX) are due to release their respective results on Thursday. Afterpay has largely pre-released its results and is expected to post EBITDA of $44 million. As for Appen, it will release its half year results and some investors are tipping the company to upgrade its guidance. In May, it reaffirmed its FY 2020 underlying EBITDA guidance of $125 million to $130 million.

More reading

• ASX 200 drops 0.7%, Zip rises 27.5%
• What’s sent WiseTech’s share price up 36% so far in August
• Top brokers name 3 ASX 200 shares to buy today
• If you invested $10,000 into Zip shares in March, here’s how much you’d have today
• How to boost your share market gains

Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia owns shares of AFTERPAY T FPO, Appen Ltd, and Woolworths Limited. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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If you’re looking to add some dividend shares to your portfolio, then I think the two listed below could be top options.

Here’s why I think these dividend shares are in the buy zone:

National Storage REIT (ASX: NSR)

I think this self storage operator could be a top long term option for income investors. This is due to its strong market position and growth through acquisition strategy. It was partly this strategy that led to the company reporting a 9% increase in underlying earnings to $67.7 million in FY 2020 despite the pandemic.

And while the company is expecting its earnings to be flat at best in FY 2021, I expect its growth to resume once the crisis passes. This year National Storage expects to post earnings of 7.7 cents to 8.3 cents per share and will then pay out 90% to 100% of this to shareholders. Based on the current National Storage share price, the high end implies a 4.5% distribution yield.

Rural Funds Group (ASX: RFF)

Another ASX dividend share I would buy is this agriculture-focused property group. I believe Rural Funds is in a great position to continue growing its distribution at a solid rate over the 2020s. This is because of its high quality portfolio of assets that are spread across several different industries and leased to some of the biggest players in the market.

Another big positive is the long term certainty that Rural Funds’ long leases offer investors. With a weighted average lease expiry of almost 11 years and rental increases built in, Rural Funds appears perfectly positioned to deliver on its target of increasing its distribution by 4% per annum over the long term. This looks very likely to be the case in FY 2021, with management intending to grow its distribution by 4% to 11.28 cents per share. Based on the latest Rural Funds share price, this equates to a 5% yield.

More reading

• Beat ultra low interest rates with these top ASX dividend shares
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• Why I would buy CBA and this top ASX dividend share
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Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia owns shares of and has recommended RURALFUNDS STAPLED. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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The Reece Ltd (ASX: REH) share price will be on watch this morning following the release of its full year results.

How did Reece perform in FY 2020?

The plumbing parts company celebrated its 100th year of operation in FY 2020 and delivered a solid result despite the bushfires and the pandemic.

For the 12 months ended 30 June, Reece delivered a 10% increase in sales revenue up to $6,010 million. This was driven largely by its US business, which grew sales by 20% to $3,122 million. Its Australian business reported a 1% increase in sales to $2,888 million.

However, due to a 70-basis point contraction in its normalised earnings before interest, tax, depreciation and amortisation (EBITDA) margin, Reece reported just a 3% increase in EBITDA to $537 million.

And on the bottom line, the company’s net profit after tax (Pre AASB 16) grew 19% to $202 million.

Despite this earnings growth, Reece has cut its final dividend down by 58% to 6 cents per share fully franked. This means a full year dividend of 12 cents per share, down 41% year on year.

Unprecedented year.

Reece’s CEO, Peter Wilson, commented: “2020 was unprecedented. Starting with devastating bushfires, followed by a health and economic crisis. We acted quickly to adapt, protecting our people and supporting our customers and the community. We’re proud that while facing into this environment we were able to deliver a record result, in our 100th year.”

“We’ve focussed on what we can control, protecting our business today, while investing in our long-term future, to accelerate our strategy. Our customers, the tradespeople of Australia, New Zealand and the United States, play an essential role in society to help prevent disease – providing clean water, sanitation, and comfortable homes. We have continued to support them during this year of crises, keeping our stores open, and providing the expertise, quality products and digital support they expect,” he added.

No guidance has been given for the year ahead.

More reading

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• Leading brokers name 3 ASX shares to sell today

Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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