Super Retail Group (SRG), the Australia-based parent of the Rebel Sports, BCF Outdoor and Macpac outdoor retail chains, provided an update on its year-to-date performance at its annual general meeting on October 25, 2023.

In the first 16 weeks of fiscal 2024 (YTD), SRG reported that consolidated Group sales grew 4 percent, with comp store sales growth of 2 percent, cycling the 20 percent comp store sales growth in the prior-year corresponding period.

Rebel posted 2 percent growth for the 16-week fiscal YTD period. Comps were flat after challenges to cycling the 20 percent comp sales growth in the prior-year corresponding period. The company said Rebel RCX and new regional stores continue to perform well and its new flagship store in Emporium, Melbourne is on schedule to open prior to Christmas. In addition, the new Rebel active customer loyalty program will launch by the end of October.

BCF sales were up 11 percent in the YTD period on 3 percent comp store sales growth. The accelerating sales growth in BCF has reportedly been supported by contributions from new stores and increased demand in boating, fishing and water sports.

Macpac was up against 76 percent comp store sales growth in the prior-year period and sales declined 7 percent in the current year-to-date period. Comp stores sales were down 8 percent this year. Sales in travel-related categories (backpacks and luggage) are said to be growing strongly; however, unseasonably warm weather in the Southern Hemisphere winter period has reportedly affected sales of insulation and rainwear products.

Supercheap Auto sales and comp store sales each rose 4 percent for the YTD period, against a 23 percent comp store sales growth in the prior-year YTD period.

Other Key Metrics:

  • Online sales represent approximately 11 percent of YTD total sales;
  • SRG has opened six stores in the YTD period and remains on track to achieve its target of 24 store openings for the fiscal year; and
  • Total active club membership continues to grow and now exceeds 10.5 million members.

Year-to-date consolidated gross margin as a percentage of sales was said to be modestly favorable to the prior-year period despite the impact of weaker currency on cost of goods sold.

As previously announced to the market, as a result of continued inflationary pressures on wages, rents and electricity costs, the Group expects its cost of doing business (CODB) as a percentage of sales to increase in fiscal 2024.

The company said it is targeting CapEx of $150 million in fiscal 2024, with funding for its store development program, a new national distribution center at Truganina (Melbourne, Australia), enhancements to its customer loyalty programs, and cyber, omni and digital capability.

Photo courtesy of Super Retail Growth