Workwear and streetwear company Globe International expects revenue growth in fiscal year 2027 after a year of flat sales, despite difficult retail conditions. The company’s CEO, Matt Hill, noted at the annual general meeting that its core brands, FXD, Salty Crew, and Globe, performed well against competitors in the first quarter of the new financial year. While profitability remained strong, Hill acknowledged the broader retail environment as a challenge.
First-half revenue is projected to fall short of the second half due to seasonal patterns, but Globe anticipates full-year revenue and profit growth alongside continued dividend payments. The outlook contrasts with FY26, when revenue remained nearly flat at $206.4 million, up just $0.1 million from the prior year. Hill attributed the profit gains to a shift in brand strategy, focusing on three high-margin, globally scalable brands.
These generated $183.1 million in sales last year, nearly 90% of total revenue. The restructuring also targeted Europe, where revenue grew 19% and EBIT surged 312% year-over-year, driven by growth in Salty Crew and Globe in the region. Australia and North America remained key markets, though Australian revenue dipped slightly to $99.5 million while EBIT climbed to $15.7 million.
Globe’s financial discipline extended to dividends. It increased the 2026 dividend by 15% to 23 cents per share, returning $5.4 million to shareholders. This marked the 11th consecutive year of dividend payments, with the yield outperforming the S&P/ASX 200 average. The company, founded by brothers Peter and Stephen Hill in Port Melbourne, has expanded from skateboarding roots to include surf, workwear, and outdoor fashion across Australia, North America, Europe, and China.
For consumers, Globe’s turnaround reflects a narrower focus on profitable brands and operational efficiency. The shift away from broad product lines to core offerings, particularly in Europe, has improved margins without sacrificing growth potential. While the company avoids specific growth targets, its ability to deliver consistent dividends suggests confidence in sustaining profitability even as revenue recovers.
The absence of detailed FY27 forecasts leaves uncertainty about the pace of recovery, but the emphasis on seasonal adjustments and brand performance signals a cautious optimism. Shareholders will watch whether the European turnaround and North American stability can offset weaker first-half results.
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