Super Retail Group’s interim profit up 30 per cent as all four brands rebound

(Source: macpac/ Facbook)

Super Retail Group says sales increases across all four of its core brands helped deliver strong profit growth in its December half.

For the six months to December 31, sales were up 15 per cent to $1.96 billion while statutory tax-paid profit grew 30 per cent to $144 million.

By segment, sports retail subsidiary Rebel registered $682 million in like-for-like sales, up 13 per cent driven by higher foot traffic and healthy inventory levels in seasonal categories.

Rebel’s online sales reached $107 million, representing 16 per cent of overall sales while performance sports such as basketball and football were the strongest performing categories.

Camping and outdoor specialist Macpac’s sales increased 55 per cent to $101 million with online sales registering $19 million, representing 18 per cent of total sales.

Strong growth was reported in insulation and wet weather apparel sales as a result of La Nina weather conditions while key travel categories such as backpacks, thermals and luggage benefitted from the growth in outbound tourism.

BCF’s sales grew 7 per cent to $448 million although like-for-like sales fell 2 per cent.

Online sales achieved $52 million during the half, representing 12 per cent of total sales with camping and fishing being the strongest performing categories.

Group MD and CEO, Anthony Heraghty, said the results are a “testimony” to the strength of the company’s four core brands.

“The success of our new store formats (including rebel rCX and the new BCF superstore) and our club member programs, which have added 1 million members in the past 12 months, have helped to deliver a strong first-half performance.”

With ongoing sales momentum in January, Heraghty said low unemployment and accumulated savings are continuing to “support” consumer spending, however rising interest rates will likely “dampen” demand later in the second half.

Last month, Fair Work Ombudsman (FWO) commenced legal proceedings against the group and four subsidiary companies, alleging underpayments.

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