Super Retail boss to quit next year
THE retail group behind Rebel Sport, Boating, Camping and Fishing and Supercheap Auto says it has recorded sales growth across its stores despite growing signs of consumer caution.
Super Retail Group chief executive Peter Birtles has also announced plans to retire from the role next year.
Speaking at the retailer’s annual meeting, Mr Birtles said Rebel Sport had achieved sales growth of 4.2 per cent for the 16 weeks to October 20 compared to the same period a year earlier.
Sales at Supercheap were up 4.1 per cent while BCF posted 1.7 per cent growth.
Adventure apparel brand Macpac, which Super Retail bought earlier this year, reported a 17.6 per cent rise in sales.
There were also solid gains on a like-for-like basis, which removes the impact of new store openings.
Like-for-like sales were up 2.4 per cent at Rebel, 3.1 per cent at Supercheap, 2.4 per cent at BCF and 8.4 per cent at Macpac.
The respectable growth in sales comes as retailers face increasingly tough trading conditions, with nervous consumers and the rising cost of living – especially petrol prices and mortgage rates – weighing on spending.
Mr Birtles said he would stand down as chief during the second quarter of the 2019 calendar year.
Shares in Super Retail closed 10.9 per cent lower yesterday at $8.33