Super Retail Group bombs after delivering profit miss during peak period for retail
Shares in the company behind BCF, SuperCheap Auto and Rebel bombed on a profit miss during the retail trader’s most crucial shopping period.
Super Retail Group is expecting revenue for the first half of the 2026 financial year to land at about $2.2 billion after reporting total sales growth across all of its stores, but what the company refers to as “normalised profit before tax” of between $172 million and $175m, tracked behind what analysts had anticipated.
That metric also doesn’t include any accounting items or events the listed group considers “unusual”.
Sign up to The Nightly's newsletters.
Get the first look at the digital newspaper, curated daily stories and breaking headlines delivered to your inbox.
By continuing you agree to our Terms and Privacy Policy.Super Retail Group stock fell sharply on opening by more than 5 per cent on the news and was still trading lower into the afternoon at $14.88, putting it on track to be the biggest loser of Monday’s trading session.
The company is the first major retailer to share results from the six months that includes Black Friday, Christmas and Boxing Day.
New chief executive Paul Bradshaw said the group had traded well but margins had been crunched by increased promotions and sales, particularly at sports store Rebel.
Sales growth on this time last year was up 4.8 per cent, but was up slightly less at 3.8 per cent on data that included new store openings to deliver unaudited revenue of $741m.
And it was a tougher period for outdoors store BCF, which Mr Bradshaw said “did not match the strong level of sales from the prior year”.
Sales went backwards 1.6 per cent on a like-for-like basis and broadly flat, up 0.3 per cent, on an overall basis for revenue of $520m.
“Fishing and Marine categories were heavily impacted in the period by macro weather/environmental factors in Victoria and South Australia. BCF gross margins were broadly in line with the prior year.”
Macpac sales growth was 13.1 per cent overall, though margins were also hit by clearance activity earlier in the half.
Mr Bradshaw, who replaced Anthony Heraghty following his exit amid a court case, affirmed that the group had kept a positive cash balance at the end of the first half and had no drawn bank debt.
