Super Retail dropped 5.5% despite posting record first-half sales. The company said group revenue was expected to reach $2.2 billion for the 26 weeks through December, while profit before tax was forecast to land between $172 million and $175 million.
In a trading update, Super Retail said like-for-like sales grew 2.5% across the group in the first half of FY26, with total sales up 4.2% compared with the prior corresponding period.
Brand performance mixed, led by Macpac momentum
Macpac recorded the strongest like-for-like sales growth at 7.8%, while Supercheap Auto and rebel posted like-for-like gains of 3.5% and 3.8% respectively. BCF was the laggard, with like-for-like sales down 1.6%.
On a total sales basis, Macpac grew 13.1%, Supercheap Auto 5.1% and rebel 4.8%, while BCF edged up 0.3%.
Profit guidance flagged, with margins under pressure at rebel
The company attributed the half’s performance to solid trading but said promotional intensity weighed on realised gross margins, most notably at rebel.
Managing director and CEO Paul Bradshaw said Supercheap Auto delivered a solid result with gross margin broadly in line with the prior period, while rebel’s margins were lower due to higher promotional activity and additional store network costs.
Bradshaw said rebel’s store activity was high during the half, including seven store openings, six closures and three refurbishments or relocations.
BCF’s sales did not match the prior year, with fishing and marine categories heavily impacted by macro weather and environmental factors in Victoria and South Australia, while gross margins were broadly in line with the prior year.
Balance sheet and next update
Super Retail said it had no drawn bank debt and held a positive cash balance at the end of the half. The group is due to release its final first-half results on February 26, 2026.