• Sales up 4% to $2.1 billion
• Group like-for-like sales growth of 1.8%
• Statutory NPAT of $129.8 million and normalised NPAT of $130.8 million
• Fully franked interim dividend of 32 cents per share

Super Retail Group reported its half year results for the period ended 28 December 2024. The company delivered solid first half sales growth of 4% to $2.1 billion, with group like-for-like sales growth of 1.8%. Statutory NPAT was $129.8 million, 9% lower than the prior comparative period, while normalised NPAT was $130.8 million. The company declared a fully franked interim dividend of 32 cents per share. Key highlights include continued momentum in online sales, which were up 10% to $286 million, and growth in active club members, up 8% to 12 million. The company successfully implemented the rebel active loyalty program, meeting or exceeding targeted KPIs. The Group opened 19 new stores and completed 14 store refurbishments during the period. Ongoing inflationary pressures on the cost of doing business impacted PBT growth and margins, though the company remains focused on actively managing its cost base. The company provided a trading update for the first 7 weeks of the second half, reporting positive like-for-like sales momentum and improved gross margins.

The Group is targeting capex in FY25 of $165 million to fund its store development program, a new distribution centre, enhancements to its customer loyalty programs and cyber, omni and digital capability. The Group expects to incur duplicated operating expenses associated with the transition from existing distribution centre facilities to the Group's new Victorian distribution centre, resulting in an increase to Group and unallocated costs in FY25 of $10 million. Total Group and unallocated costs in FY25 (including this $10 million) are expected to be $42 million, compared to $36 million in FY24.

The Group remains relatively well positioned given its customer value proposition, the strength of its brands and loyalty programs, as well as the resilience of the lifestyle and leisure categories in which it operates. While inflation appears to be gradually easing, the Group expects continued upward pressure on its cost base in FY25. The Group plans to open 28 new stores in FY25.