GENERAL PROPERTY

Omni-retail strategy delivers for Super Retail

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SUPER Retail Group netted record sales and earnings over the financial year, as its supply chain and inventory management capabilities met the growing demand for the “lifestyle and leisure” categories.

The group, owner of Supercheap Auto, sports retail chain Rebel, BCF and Macpac, registered a 22% increase in sales to $3.45 billion and a normalised net profit after tax leap of 107% to $306.8 million.

Earnings per security surged 139% to 133.4c.

Its BCF chain saw a 49.1% uplift in total sales to $797.7 million, as international border closures directed Australians towards domestic tourism activities and leisure activities. Caravan, four-wheel driving, camp shelter and bedding, barbeque, trailer, water sports, footwear and apparel were among the fastest-growing sub-categories.

Those fed into SuperCheap Auto seeing a sales increase of 16.9% to $1.31 billion. Among the big improvers were 4WD and outdoor and roof racks, as were in-car tech, detailing and safety and comfort.

The shuttering of gyms during COVID-enforced lockdowns led to more at-home fitness activity, helping Rebel to a 15.3% increase in sales to $1.2 billion, while the Macpac chain netted a 16.3% increase in sales to $153.4 million due to increased brand awareness and more Australians and New Zealanders going camping for their holiday.

Gross margins improved across the board largely due to lower promotional activity and recovery of supply cost inflation.

The group declared a fully franked final dividend of 55.0c per share, for a full year dividend of 88.0c per share.

Group managing director and CEO, Anthony Heraghty said the result was driven by “unprecedented consumer demand in our lifestyle and leisure categories”.

“Successful omni-retail execution, investment in our supply chain and focus on inventory management have been key in meeting elevated volumes of demand in both our in-store and online channels.

“In particular, the group’s omni-retail business strategy and digital capability are providing the flexibility to pivot to online channels to meet shifts in consumer behaviour during COVID-19 lockdowns.”

Online sales were up 43% to $415.6 million.

The group also grew its active club membership to eight million customers.

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