Super Retail Firing on All Cylinders

Another solid sales update from Super Retail Group as Australians continue to fiddle with their cars, get outside for a bit of exercise, or campaign, go boating or fishing, while wearing a nice pair of boots.

For much of the pandemic it was Super Cheap car products and Rebel sportswear that did well, but in the past few months and especially in the three months to March it’s been its BCF business (long a bit of a laggard) that has enjoyed an upturn in sales.

Super Retail told the ASX on Tuesday that like-for-like sales (or comparable) across the first 44 weeks of the June 30 2021 financial year have risen 28%, driven largely by a massive 59% jump at the outdoorsy BCF.

Sales at Supercheap Auto rose 21% for the same period, and 20% at sports retailer Rebel.

Sales at outdoor apparel retailer Macpac also did well, up 17%.

The company showed investors that sales for the first 44 weeks of 2020-21 were up 26% when compared to the first 44 weeks of 2019 financial year which was pre-Covid.

“I am pleased to report that the Group has delivered strong Easter trading across all brands, particularly BCF and Macpac,” chief executive Anthony Heraghty said in the release.

“Given the continued strength of customer demand, the Group has maintained relatively subdued levels of promotional activity in the second half. As a result, the gross margin improvement which the Group delivered in the first half has been maintained in the second half.”

Super Retail has seen some higher shipping costs due to international supply chain weaknesses.

It also expects some higher costs through the second half of the year as the business catches up on expenditure for COVID-delayed projects.

Super Retail shares rose 0,8% to $11.72.

 

Glenn Dyer

About Glenn Dyer

Glenn Dyer has been a finance journalist and TV producer for more than 40 years. He has worked at Maxwell Newton Publications, Queensland Newspapers, AAP, The Australian Financial Review, The Nine Network and Crikey.

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