Super Retail Group reports half year results for the period ending 25 December 2021
Record second quarter sales, supported by strong inventory position, deliver $1.7b in first half revenue
First half highlights:
• Sales of $1.7 billion (excluding Boxing Day) – reflects strong rebound in second quarter sales across all four core brands1
• 46.7 per cent Group gross margin – maintained margin uplift above pre COVID-19 levels despite higher supply chain costs
• Record online sales – digital sales up 64 per cent to $389 million
• Acceleration of growth in active club members – up 22 per cent to 8.7 million2
• Fortified inventory position – mitigated the impact of supply chain disruption, enabling the Group to capture strong consumer demand
• Investment in stores, digital and team to support future growth – resulting in normalisation of operating costs
• Successfully navigated extended period of store lockdowns via omni-retail
execution – Click & Collect sales up 109 per cent
• Store network expansion – completed 15 new store openings and 28 refurbishments
and relocations
• Conservative balance sheet – no bank debt and $94 million cash balance
• Normalised EPS of 49.9 cents and fully franked interim dividend of 27.0 cents per share
https://www.uninformedinvestors.com/wp-content/uploads/2022/02/220221-ASX-SUL-H1-20222-Results.pdf
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