Super retail to reveal $2.8bn result
SUPER Retail Group says the rebound in demand after the initial COVID-19 lockdown has put it in good stead to deliver a flat net profit for the full year.
Ahead of the release of its results next month, the owner of Rebel Sport, BCF and Macpac chains said it was expecting to announce revenue of $2.8bn for the full year, up from $2.71bn last year, while net profit was forecast between $153m and $154m, in line with last year’s $153m. The group had previously said sales dropped 26.2 per cent at the peak of the COVID-19 lockdown in April, but said May sales were up 26.5 per cent compared to the previous period, and June sales were up 27.7 per cent.
For the 52 weeks to June 27, the group posted total sales growth of 4.2 per cent and like-for-like sales growth of 3.6 per cent.
“Given the volatile trading environment, we are very pleased with these results,” chief executive Anthony Heraghty said.
“The Group’s omni-retail channel business strategy has enabled our businesses to adapt quickly to changing consumer behaviour during COVID-19 and delivered a resilient trading performance.”
Super Retail will release its full-year results on August 24.
Its shares closed 9.5 per cent higher on Friday at $8.88.