Super Retail Group (ASX:SUL) Plans AUD165M Investment to Drive Digital & Retail Expansion.

Tue 28 Jan 25, 05:17 AM | Team Kalkine

Image source: shutterstock

Highlights

Super Retail Group Limited (ASX:SUL), a major Australian retailer specialising in auto parts, outdoor equipment, and sporting goods, released its financial results for the financial year 2024 (FY24). Despite rising living costs impacting discretionary spending, the company managed to achieve a 2.10% YoY increase in total sales, reaching AUD 3,882.6 million. During the reported period, online sales increased by 9% YoY to AUD 485 million. Online sales now account for 13% of total revenue, up from 12% in FY23.

The company's total segment EBIT in FY24 declined by 8.58% YoY to AUD 400.4 million and net profit attributable to owners also saw a decline of 8.71% YoY to AUD 240.1 million. The fall in NPAT was driven by increased operating expenses, including higher wages, rent, and interest costs.

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