Super Retail Group enjoyed a record result during its first half, with group sales up 23 per cent and online sales skyrocketing 87 per cent.
According to the outdoor retail group, which operates Supercheap Auto, Rebel, BCF and Macpac, the result was driven by “unprecedented” demand through the period and record online sales through the Cyber Weekend sales event.
And with e-commerce sales hitting $237 million, chief executive Anthony Heraghty said online is “no longer a side project”, according to Fairfax.
“The successful evolution of the Group’s omniretail business strategy and the effectiveness of our supply chain and inventory management have been instrumental in fulfilling large volumes of customer orders,” Heraghty said in a statement to shareholders.
“We are particularly pleased with our record online sales over the November cyber weekend and strong Christmas trading. This has culminated in a record first half performance for the group.”
Supercheap Auto saw total sales grow 20 per cent, while online sales grew 46 per cent. Likewise, Rebel sales grew 15 per cent, while online were up 102 per cent, and BCF saw sales grow 51 per cent and online grow 113 per cent.
Even Macpac, which saw total sales fall 5 per cent recorded a significant gain online, with online sales up 94 per cent.
Heraghty said the business remains cautious on the outlook for the second half, with so many uncertainties still active in the economic environment, but that the group has a resilient business model.
“Strong cash flow generation leaves us well placed in the second half to reinvest in our brands to maintain our customer value proposition, expand and reward our customer base, consolidate our market-leading positions and grow our market share,” 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.”