Slowdown takes gloss off Rebel, Supercheap Auto sales boom

afr.com:

Super Retail Group chief executive Anthony Heraghty has rewarded shareholders with a special dividend of 25¢ a share after sales and profits rose over the 2023 financial year.

In the first six weeks of the new fiscal year, like-for-like sales were lower at Rebel, BCF and Macpac, while Supercheap Auto was up 3 per cent.

Annual group sales increased 7 per cent to $3.8 billion for the year ended July 1, or 9 per cent when adjusted for the extra week in the prior fiscal year, with the Rebel and Supercheap chains posting record turnover.

Super Retail Group boss Anthony Heraghty says Rebel posted record sales over the 2023 fiscal year. Ben Searcy

Group sales grew 8 per cent on a like-for-like basis, but moderated in the second half as it cycled strong sales from the prior period and higher cost of living pressures hobbled consumer discretionary spending. Earnings before interest and tax rose 10.4 per cent to $438 million.

Statutory net profit rose 9 per cent to $263 million.

Mr Heraghty said Rebel gained from the successful rollout of the “homes of sport” format, events like the FIFA Women’s World Cup and a rebound in participation in grassroots sport. Its sales rose 8 per cent to $1.31 billion underpinned by the basketball and football categories.

Total sales at its biggest brand, Supercheap, increased by 8 per cent to $1.45 billion, with like-for-like sales growth of 10 per cent. Auto maintenance was the strongest performing category reflecting a shift to do-it-yourself car care.

BCF sales inched up 1 per cent to $840 million, with like-for-like sales flat, as higher transaction volumes were offset by a modest decline in average transaction value. Fishing delivered the strongest sales performance, but gross margins were