Get all your news in one place.
100’s of premium titles.
One app.
Start reading
AAP
AAP
Derek Rose

Supercheap Auto owner zooms ahead on record $3.9b sales

Supercheap Auto owner Super Retail Group says it has made a strong start to the financial year. (Dan Himbrechts/AAP PHOTOS)

The retailer that owns Supercheap Auto and Rebel Sports has posted record full-year sales of $3.9 billion, up two per cent from 2022/23, as customers kept shopping despite cost-of-living pressure.

Super Retail Group said on Thursday it would pay shareholders a special dividend on top of its regular one despite its full-year statutory net profit after tax dropping nine per cent to $242 million, which the group attributed in part to higher wage and rent payments.

"Super Retail Group delivered a solid financial performance in FY24 as record sales and higher gross margin helped mitigate the impact of inflation on our cost base," chief executive Anthony Heraghty said.

"In a macroeconomic environment where cost-of-living pressures are dampening consumer spending, the delivery of top-line growth is a testimony to the strength of our four core brands and the resilience of the categories in which we operate."

The group's total sales were up three per cent as it opened new stores. Its same-store sales were flat, with two per cent growth in Supercheap Auto's sales offset by a two per cent drop at Rebel and a one per cent drop at BCF, the group's chain of boating, camping and fishing stores.

"Flat like-for-like sales growth during the period reflected the impact of higher interest rates and increased cost of living expenses, which led to more cautious consumer behaviour," the group said.

Online sales were up nine per cent to $485 million, which rose from 12 per cent to 13 per cent of all sales.

The group has made a strong start to the current financial year, with like-for-like sales are up three per cent and total sales up five per cent in the past seven weeks.

Super Retail Group will pay shareholders a regular dividend of 37 cents per share, plus a special dividend of 50c per share. 

It ended the financial year with no bank debt and $218 million in cash.

Sign up to read this article
Read news from 100’s of titles, curated specifically for you.
Already a member? Sign in here
Related Stories
Top stories on inkl right now
One subscription that gives you access to news from hundreds of sites
Already a member? Sign in here
Our Picks
Fourteen days free
Download the app
One app. One membership.
100+ trusted global sources.