Super Retail Group sees rise in sales following opening of new stores
Despite higher sales and new stores opening in the 2024 fiscal year, Super Retail Group’s net income declined, with a 9 percent drop in net profit to $240 million.
During the 12 months ended June 29, 2024, the group’s sales increased by 2 percent to $3.9 billion from $3.8 billion.
Supercheap Auto experienced a 3 percent growth in sales to $1.5 billion, with a 2 percent increase in like-for-like sales. The auto maintenance category emerged as its strongest, indicating a rise in do-it-yourself activities.
Online sales for Supercheap Auto rose by 6 percent to $121 million, representing 8 percent of total sales, with Click & Collect accounting for 78 percent of online sales. The period ended with 159 stores after opening 11 and closing one.
Boating, Camping & Fishing (BCF) saw a 5 percent growth in sales to $879 million, despite a 1 percent decline in like-for-like sales. Fishing sales were particularly strong for the company during the fiscal year.
BCF’s online sales increased by 9 percent to $102 million, making up 12 percent of total sales, with Click & Collect contributing 56 percent of online sales. The period ended with 162 stores after opening seven and closing two stores.
Macpac experienced a 3 percent sales increase to $222 million, with New Zealand seeing an 8 percent rise in like-for-like sales, while Australia saw a 4 percent decline due to milder winter weather. Online sales for Macpac increased by 1 percent to $39 million, comprising 18 percent of total sales. Click & Collect accounted for 16 percent of online sales, and the period ended with 97 stores.
Rebel’s sales decreased by 1 percent to $1.29 billion, with a one-off impact of $7 million related to a revenue deferral from its loyalty program. Like-for-like sales fell by 2 percent, driven by lower transaction volumes and average transaction value.
Rebel’s online sales jumped by 12 percent to $222 million, representing 17 percent of total sales, with Click & Collect making up 28 percent of online sales. The period ended with 159 stores after opening and closing one each.
Super Retail Group Sees Good Start in FY25
For the first seven weeks of fiscal 2025, Super Retail Group saw a 5 percent total sales growth and 3 percent.
“The group’s customer value proposition, the strength of our brands, and the size of our customer loyalty club membership base means Super Retail Group remains well positioned to perform in retail market conditions where customers are carefully managing their spending and prioritizing value-for-money purchases,” said Anthony Heraghty, CEO and managing director of Super Retail Group.
Supercheap Auto’s total sales grew by 6 percent, with a 4 percent increase in like-for-like sales, while Rebel saw a 1 percent growth in both total and like-for-like sales. BCF saw a 15 percent increase in total sales and a 9 percent rise in like-for-like sales.
Overall, Super Retail Group remains optimistic about its performance in the coming year despite the uncertain consumer outlook and plans to manage costs effectively while investing in future growth.
