SALES GROWTH DRIVES NEW SUPERCHEAP STORES

Written on the 10 November 2010

SALES GROWTH DRIVES NEW SUPERCHEAP STORES

IT'S not Christmas yet but Brisbane retailer Super Cheap Auto Group Limited (SUL) has recorded 17 per cent year-on-year growth for the last six weeks, with plans to open more than 30 new stores across its brands over FY2011.

Managing director Peter Birtles (pictured) highlighted marginal like-for-like sales growth and could not give an indication for expected Christmas sales in his AGM speech today

“In the same period, Supercheap Auto and BCF Boating Camping Fishing have grown like for like sales by circa 3 per cent. This is a pleasing level of performance given the boost that the government stimulus provided to sales in the prior comparative period,” he says.

“We expect that the general outlook for retail trading will remain uncertain in the lead up to Christmas but we expect that increasing confidence will start to drive retail spending in the second half of the coming year.

“We expect to open between 10 and 15 new stores in the Auto and Cycle Retailing division and around 20 stores in the Leisure Retailing division during the financial year. We also expect to refurbish another 30 Supercheap Auto stores.”

The company has opened two new Ray’s Outdoors stores in the last month and expects to open another four or five before Christmas.

SUL shares fell by 1 per cent to $6.60 this morning.


Latest News

OROTON GOES CLICKS AND BRICKS AS PROFITS SLIDE

TWO former Aussie lawyers have turned their passion for fashion into a $15 million dollar international business six ...

MANTRA'S SHARE PRICE SURGE INDICATES 'SUITORS ARE CIRCLING' THE HOTEL GROUP

THE rumour mill surrounding a high-level takeover of Mantra Group (ASX: MTR) is in full production with its shares su...

MELBOURNE CBD GEMS SELL FOR $17 MILLION, MARKING A NEW PROPERTY HOTSPOT

LITTLE Lonsdale Street in the heart of Melbourne's CBD has become a favourite for investors in 2017, following th...

CAN GOOGLE RECOVER FROM GLOBAL CONTROVERSY OVER ITS PROGRAMMATIC ADVERTISING SYSTEM?

IT'S the story that has rocked the world of advertising. The lucrative Google (NASDAQ: GOOGL) advertising system ...

Related News

RAY OF HOPE FOR SLATER AND GORDON AS LENDERS STEP IN

EMBATTLED law firm Slater and Gordon (ASX: SGH) has announced to the ASX that it has launched confidential discussion...

SPROUTX PROVIDES THE SEED FOR AGTECH STARTUPS

AGTECH innovation fund SproutX has opened applications for its first accelerator round, backed by $10 million from...

GAS PRICES MAY FORCE BRICKWORKS TO TAKE MANUFACTURING OVERSEAS

BRICKWORKS Limited (ASX:BKW) chairman Robert Millner says soaring energy prices may force the company to turn to offs...

CHINA CONTINUES TO COLLECT AUSSIE PROPERTY ASSETS

CHINESE coin continues to dominate Australia's offshore real estate investment market, accounting for almost h...

EVENTS COMING UP

 

Contact us

Email News Update Sign Up Contact Details
Subscriptions

PO Box 2087
Brisbane QLD 4001

LoginTell a FriendSign Up to Newsletter