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Highlights

  • In FY24, SUL’s total sales increased 2.10% YoY to AUD 3,882.6 million.
  • Total segment EBIT dropped 8.58% YoY to AUD 400.4 million in FY24, while net profit attributable to owners declined by 8.71% YoY to AUD 240.1 million.
  • SUL aims to invest AUD 165 million in store development, customer loyalty programs, and digital enhancements, including omni-channel and cybersecurity.

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.

The company’s gross margin increased to 46.3% in FY24, significantly outperforming the industry median of 37.2%. Additionally, its store network expanded from 736 locations in FY23 to 759 in FY24

In the first 16 weeks of the new financial year, the company reported a 2% like-for-like growth in sales and a 4% total sales growth.

Outlook

To support future growth, Super Retail Group plans to invest AUD 165 million in capital expenditures. These investments will focus on store development, enhancements in customer loyalty programs, and advancements in cyber, omni-channel, and digital capabilities.

Although inflationary pressures have started to ease, cost concerns persist, making value-for-money offerings a key focus for retailers. Super Retail Group aims to leverage its  brand portfolio to navigate cautious consumer spending patterns.

Top 10 shareholders of SUL

The top 10 shareholders of SUL have around 40.05% shareholding in the company. SCA FT Pty. Ltd has the highest stake in the firm with a shareholding of around 27.23%, followed by The Vanguard Group, Inc., with a shareholding of almost 2.09%.

Share performance of SUL

SUL shares closed 0.79% higher at AUD 15.40 per share on 28 January 2025. Over the past year, SUL’s share price has dropped by almost 3% and has recorded a rise of 3.98% in the last three months.

52-week high of SUL is AUD 18.40, recorded on 9 October 2024, and 52-week low is AUD 12.06, recorded on 23 May 2024.

Note 1: Past performance is neither an Indicator nor a guarantee of future performance.

Note 2: The reference date for all price data, and currency, is 28 January 2025. The reference data in this report has been partly sourced from REFINITIV.