Super Retail sales hit

CEO says subdued growth as expected

THE retailer behind the Rebel and Supercheap Auto chains says soft consumer spending has dampened its sales growth.

In an update ahead of its annual meeting yesterday, Super Retail Group said sales in its sports retailing division – which also covers Amart Sports – climbed in the 16 weeks to October 21, up 5 per cent on the same period a year earlier.

But growth in like-for-like sales, accounting for shops that have been open at least a year, was far more modest, at 2 per cent.

Sales in the auto division rose 6 per cent in total and 4 per cent on a like-for-like basis.

In leisure retailing, covering its boating, camping and fishing supplies chain BCG, sales were up 7 per cent, but like-forlike sales were only 2 per cent higher.

Super Retail chief Peter Birtles says the growth was in line with the company’s expectations.

“Although like-for-like sales growth has been slightly dampened by the subdued consumer environment, we continue to generate sourcing and supply-chain efficiencies and are maintaining strong operating cost control across the group,” he said in a statement to investors.

Supercheap Auto continued to perform strongly with growth in all categories and in most of its Australian and New Zealand stores, Mr Birtles said.

The sports division, which is merging the Amart Sports business under the Rebel brand, delivered solid sales but BCF’s like-for-like sales were slightly below the group’s expectations.

The conversion of Amart Sports stores into Rebel is almost complete with six stores to be converted, with those sites on track to be rebranded by the end of the month.

Super Retail plans to open up to 10 new Supercheap stores and refurbish up to 44 this financial year. It is planning three new BCF stores, one new store under the Rays camping supplies umbrella, and three new Rebel stores.

The group made a net profit of $101.8 million in the year to July 1, up 62 per cent from the previous year.