• About
  • Advertise
  • Privacy & Policy
  • Contact
ALDS Tech News
  • Contact Us
  • Home
  • Business
  • Entertainment
  • Fashion
  • Finance
  • Health
  • Home Improvement
  • Reviews
  • Sports
No Result
View All Result
  • Contact Us
  • Home
  • Business
  • Entertainment
  • Fashion
  • Finance
  • Health
  • Home Improvement
  • Reviews
  • Sports
No Result
View All Result
ALDS Tech News
No Result
View All Result
Home Business

Super Retail Group touts major profit growth due to surging sales | Alds

alds by alds
January 24, 2021
in Business, Fashion, Home Improvement, Reviews, Sports
0
Super Retail Group touts major profit growth due to surging sales
305
SHARES
2.3k
VIEWS
Share on FacebookShare on Twitter

[ad_1]

Super Retail Group says “unprecedented” consumer demand has fuelled a sales surge, with the Super Cheap Auto and Rebel Sport owner benefiting from the 2020 Christmas and Black Friday sales period.

In an update to the Australian Stock Exchange on Monday, Super Retail flagged it is anticipating net profit after tax to soar by approximately 200 per cent for the first half of the 2021 financial year to a range of $170m to $173m.

The company, which also owns BCF and Macpac, noted like-for-like sales to December 26 was 24 per cent higher than the first half of the previous financial period, while online sales during the same period jumped 87 per cent to $237m.

Super Retail chief executive, Anthony Heraghty said the company was in a strong cashflow position but would “remain cautious” during the second half of the financial year, which is still being influenced by ongoing economic uncertainty sparked by the coronavirus pandemic.

“While we remain cautious on the outlook for the second half given the uncertain economic environment, the Group has a resilient business model underpinned by powerful brands with market-leading positions in growing lifestyle categories, an active customer base of 7.1 million loyalty club members and a conservative balance sheet with a strong cash balance and no net bank debt,” Mr Heraghty said.

The company indicated Macpac sales fell due to government-mandated store closures in Melbourne and Auckland that impacted turnover during the six months.

It also flagged it would be paying back $1.7m in JobKeeper wage subsidies to the federal government due to the higher than expected jump in operational performance.

“The operating leverage which the Group has been able to achieve during a period of robust online sales growth clearly reinforces the profitability of our digital sales and, in particular, the scalability of our omni-retail platform,” Mr Heraghty said.

“As inventory levels are restored during the second half, following a period of unprecedented consumer demand, we expect the level of promotional activity to increase.”

Super Retail is expected to hand out its half-year results on February 17.

[ad_2]

Source link

Previous Post

Recent upgrades bring big improvements | Alds

Next Post

Vanessa Sierra suicidal thoughts, mental health battle, Bernard Tomic girlfriend, hotel quarantine complaints, depression, Instagram, OnlyFans | Alds

Next Post
Vanessa Sierra suicidal thoughts, mental health battle, Bernard Tomic girlfriend, hotel quarantine complaints, depression, Instagram, OnlyFans

Vanessa Sierra suicidal thoughts, mental health battle, Bernard Tomic girlfriend, hotel quarantine complaints, depression, Instagram, OnlyFans | Alds

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

  • About
  • Advertise
  • Privacy & Policy
  • Contact

© 2022 JNews - Premium WordPress news & magazine theme by Jegtheme.

No Result
View All Result
  • Contact Us
  • Home
  • Business
  • Entertainment
  • Fashion
  • Finance
  • Health
  • Home Improvement
  • Reviews
  • Sports

© 2022 JNews - Premium WordPress news & magazine theme by Jegtheme.