Super Retail Group Jumps on Australian Reopening
The down-under retailer hit record H1 results with net income up 30% to A$144 million ($94.5 mm) from A$111 million on A$1,958.2 million ($1,284.9 mm) in sales, up 15% over A$1,705.1 million. Rebel Sport revenue grew 13% to A$681.9 million, BCF increased 7% to A$447.6 million, and Macpac jumped 55% to A$101.4 million. The group also includes auto parts chain, Supercheap Auto. Companywide gross margin contracted 50 b.p. to 36.2% but SG&A leveraged 160 b.p. to 34.4% of sales, translating to an EBIT margin of 11.1%, up 170 b.p. Sports and ... Log in to view full article.