Super Retail Group profits hurt by Rebel discounts

Image of a Rebel storefront
Rebel went through a busy promotional period

Super Retail Group (SRG), the owner of BCF, Macpac, Supercheap Auto and Rebel, has continued its positive sales momentum in the first half 2026 financial year.

But the results weren’t complete cause for celebration; the 4.2 per cent uplift in sales to $2.1 billion was marred by a 19.8 per cent fall in profits for the six-month period.

SRG said this hit to profit partly came from the “peak period” of capital expenditure. With 788 stores in Australia and New Zealand, most under the Supercheap Auto banner, SRG has been investing heavily in new stores, refurbishments, and the creation of omnichannel loyalty programs at its brands.

Supercheap Auto’s sales led the group, increasing by 5.1 per cent to $813.4 million. Growth in average transaction value led to like-for-like sales increasing by 3.5 per cent. Growth in Australia of 3.7 per cent was higher than in New Zealand. SRG said performance across the Tasman has improved, but “remains subdued” at 2.1 per cent. 

Rebel, which saw an “increase in promotional activity” take 20 basis points of its gross margin, had sales increase by 4.8 per cent to $740.4 million. SRG said that Rebel’s stock loss levels remain high, but it is taking action to slow the trend.

Boating and outdoor brand BCF had a modest 0.3 per cent increase in sales to $522 million. Like-for-like sales, however, declined 1.6 per cent. SRG credited “more challenging seasonal factors”, which favoured the year prior.

Macpac was the group’s biggest improver, reaching $121.5 million in sales, a 13.1 per cent increase. Sales in Australia grew by 8.9 per cent, and in New Zealand by 5.9 per cent. The 14.2 per cent growth in its active club membership brought the total to 900,000 registered members.

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