Super Retail Group says fuel crisis and interest rates cloud outlook for 2027
The company behind some of the nation’s best-known retail brands says trading conditions deteriorated in the fourth quarter, with the fuel crisis and high interest rates clouding the outlook for the year ahead.
The company behind some of the nation’s best-known retail brands says trading conditions deteriorated in the fourth quarter, with the fuel crisis and higher interest rates clouding the outlook for the year ahead.
Super Retail Group — behind big-box outlets Rebel, Supercheap Auto, BCF and Macpac — reported a 7.2 per cent slump in net profit to $206 million in the year to June 27.
Group revenue grew modestly at 3.2 per cent to $4.2 billion, with the FIFA World Cup boosting sales at sports store Rebel.
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By continuing you agree to our Terms and Privacy Policy.Super Retail chief executive Paul Bradshaw said it was a solid result achieved “in the face of significant headwinds that included geopolitical instability in the Middle East, unfavourable weather and increasing interest rate pressure on households”.
The fuel crisis and poor weather crimped sales at outdoor goods retailer BCF, where sales grew just 0.2 per cent during the year.
Providing a trading update for the first seven weeks of the new financial year, Super Retail said group same-store sales were up 1.5 per cent, driven by Supercheap Auto.
Rebel’s like-for-like sales rose 1.1 per cent, with demand normalising post the FIFA World Cup, and BCF’s were up just 0.4 per cent.
“The group experienced a negative impact from the fuel crisis in (the fourth quarter), and while there have been signs of stabilisation in the short period since, tensions in the Middle East remain elevated, creating uncertainty around the outlook for FY27,” Mr Bradshaw said.
“Domestic factors such as rising interest rates, elevated inflation, and pressure on housing markets are weighing on consumer confidence in the near term.”
Mr Bradshaw said despite challenges in the broader retail landscape, he was confident it had the team and strategy in place to deliver future growth.
At its investor day in June, Super Retail unveiled plans to ramp up its bricks-and-mortar footprint as it chases billions of dollars worth of market share across all four brands.
Super Retail has a $4 billion hold on the total auto, outdoor and sporting goods market, which is worth $65b.
This means all four brands had ample room for growth, Mr Bradshaw said previously.
