Australia Super Retail Group get solid start, despite outdoor falls

Super Retail Group has started the new financial year on a solid note, reporting stronger same-store sales growth in its two biggest divisions, auto accessories and sporting goods.

In a trading update at the retailer's annual meeting in Brisbane on Wednesday, Super Retail chief executive Peter Birtles said same-store sales at Super Cheap Auto had risen 4 per cent in the 16 weeks to October 18.

This compares with same-store sales growth of 2.4 per cent in 2014 and 3 per cent in the first six weeks of 2015.

At Rebel Sports and Amart, same-store sales had risen 3 per cent in four months, compared with growth of 2.6 per cent in 2014 and 2.5 per cent in the first six weeks of the year.

However, same-store sales in the leisure business, which includes Ray's Outdoors, BCF and FCO outdoor leisure stores, had fallen 8 per cent, compared with a decline of 0.2 per cent in 2014 and a 9 per cent drop in the first six weeks of 2015.

The update was welcomed by shareholders. Super Retail shares, which have fallen 42 per cent over the last 12 months, rose 34¢ to $8.00 on Wednesday after hitting a two year low of $7.59 last week.
Mr Birtles said overall sales so far this year had been in line with expectations but sales in leisure continued to come under pressure from new store cannibalisation and ....
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By Sue Mitchell through smh.com.au ©