Super Retail bounces off holiday promotions to help it swell sales

The company that owns Supercheap Auto, the Rebel sports brand and the outdoor chains BCF and Macpac is crediting smart holiday promotions for helping it grow sales despite the rising cost-of-living.

Jan 15, 2024, updated Jan 15, 2024
Super Retail sales continue to rise (file photo)

Super Retail sales continue to rise (file photo)

Super Retail Group on Monday announced that group sales were up three per cent in the 26 weeks to December 30, compared to a year ago. Sale-store sales were up one per cent.

The company said it expects to announce $2 billion in first-half revenue and profit before tax of between $200 million and $203 million, subject to audit review and finalisation.

Rebel underperformed during the half, with same-store sales down three per cent, but Supercheap Auto and BCF (Boating, Camping and Fishing) grew such sales by three and two per cent, respectively.

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Group chief executive and managing director Anthony Heraghty said well-executed promotions during the end-of-year trading period delivered revenue growth that translated into strong first-half earnings.

Cost of living pressures on the consumer did lead to a more constrained retail trading environment at the end of the second quarter, he said.

“Despite this, our customer proposition and the resilience of the lifestyle and leisure categories in which we operate underpin our performance in challenging economic conditions where consumers are sharpening their focus on value,” Mr Heraghty said.

At 1pm, Super Retail Group shares were up 6.1 per cent to an all-time high of $16.77

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