Australia's Super Retail Group's revenue surges 7.1% in FY23

The group’s like-for-like sales growth saw an 8 per cent increase in FY23. However, the overall like-for-like sales growth dropped from 11 per cent in the first half of FY23 (H1 FY23) to 6 per cent in H2 FY23.

The company opened 24 new stores in FY22, including the launch of BCF superstores in Townsville and Kawanam, Super Retail Group said in a press release.

A notable shift occurred in online sales, experiencing a significant contraction, down to $445 million or 12 per cent of total revenue in FY23 from $601 million or 17 per cent of total revenue in FY22. Click and Collect sales comprised 48 per cent of the group’s online sales, indicating a preference for hybrid shopping models.

In other financial metrics, the group reported a gross margin of 46.2 per cent, with the statutory profit before tax (PBT) margin up 50 basis points to 10.3 per cent. Statutory earnings per share (EPS) were 117 cents, with normalised EPS standing at 121 cents.

“Despite challenging economic conditions, the group has delivered positive sales growth. The group has a solid track record of performance through the economic cycle. Our customer value proposition and low average ticket price means we are well positioned for a more value conscious consumer environment,” said Anthony Heraghty, managing director and CEO.

Fibre2Fashion News Desk (DP)