Super Retail Group’s Sales Increase After New Store Openings

Super Retail Group’s net income declined despite higher sales amid new stores opening in the 2024 fiscal year. The group’s net profit fell 9 percent to $240 million (US$163 million) from $263 million while sales rose 2 percent to $3.9 billion from $3.8 billion in the 12 months ended June 29, 2024. Supercheap Auto’s sales grew 3 percent to $1.5 billion, with a like-for-like sales growth of 2 percent. Its auto maintenance, including lubricants, car detailing, and power, emerged as its strongest category, signifying an uplift in do-it-yourself activities. The auto parts retailer’s online sales went up 6 percent to $121 million, accounting for 8 percent of its total sales. Click & Collect represented 78 percent of online sales....