Super Retail has gone from humble beginnings – a car parts by mail order business – to a retail conglomerate selling everything from basketballs to puffer jackets.
From humble beginnings as a car parts by mail order business to a retail conglomerate selling everything from basketballs to puffer jackets, the business behind popular automotive retailer Supercheap Auto has lived up to its slogan of being everything auto – and much, much more.
However, with consumer confidence waning and the cost of living increasing, there are some concerns the business may not be able to maintain its strong sales growth.The business began in Brisbane in 1972 as a mail-order service for car parts started by husband-and-wife duo Reg and Hazel Rowe, which soon grew into having bricks-and-mortar stores. In 1981, the Rowes changed the company name to Super Cheap Auto.
MST Marquee senior analyst Craig Woolford told clients in a research note Super Retail reported a “strong result with good momentum”, highlighting the company’s preliminary trading figures for the start of the new financial year, which showed 17 per cent sales growth across the group, led by outdoors brand Macpac, which reported 42 per cent growth through July.
Online trade continues to be a standout, thanks to its investment throughout the pandemic. Over the past 12 months, the company reported a 44 per cent uptick in online sales to $601 million, comprising nearly 20 per cent of overall sales.While analysts were praising the company’s sales growth, simultaneously they were wringing their hands over a potential issue which has hurt many of Super Retail’s peers: too much stock.
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