Super Retail Group experiences ‘strong rebound’ as lockdown eases
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Australia’s Super Retail Group – the country’s leading supplier of fishing tackle – has reported a ‘strong rebound’ in sales in the fourth quarter of its financial year following the easing of COVID-19 lockdown restrictions.
The group says that due to the stronger than expected sales performance it expects to deliver annual revenue for 2019/20 of $2.82 billion compared to $2.71b in 2018/19. It reported a 26.2% decline in monthly like-for-like sales during the peak pandemic-affected month of April.
However, that was replaced by an increase in sales of 26.5% in May with the momentum continuing into June with sales increasing by 27%. When it announces its full results next month, Super Retail Group will confirm a growth of 4% in sales at its Boating, Camping, Fishing (BCF) chain of stores and a like-for-like increase of 3%.
Anthony Heraghty, the group’s CEO and Managing Director, said: ” Given the volatile trading environment, we are very pleased with these results. Our omni-retail channel business strategy has enabled our business to adapt quickly to changing consumer behaviour during COVID-19 and delivered a resilient trading performance.”