Sales at Australia’s largest supplier of fishing tackle grew by more than 50% in the first half of its financial year compared to the same period in 2020, with online sales jumping 113%.
The Super Retail Group reported a record performance across its four divisions, with the BCF (Boating Camping Fishing) chain its star performer, delivering the best sales (up 51%) and like-for-like growth (up 51%) to deliver provisional revenue of $428m.
Anthony Heraghty, Group Managing Director and Chief Executive Officer, said: “Since our last update in October, the group has continued to perform well. We are particularly pleased with our record online sales over the November cyber weekend and strong Christmas trading. This has resulted in a record first half performance for the group,
“I would like to take this opportunity to recognise the outstanding efforts of our team members who adapted quickly to the unique challenges presented by COVID-19 to provide our customers with safe and reliable access across our four core brands both instore and online.
“The successful execution of our omni-channel business strategy and the effectiveness of our supply chain and inventory management have been instrumental in fulfilling large volumes of customer orders and delivering strong results for the period.
“The strong cash flow generation leaves us well placed in the second half to reinvest in our brands to maintain our customer value proposition, expand and reward our customer base and consolidate our market-leading positions and grow market share.
“As inventory levels are restored during the second half, following a period of unprecedented consumer demand, we expect the level of promotional activity to increase.
“While we remain cautious on the outlook for the second half given the uncertain economic environment, the group has a resilient business model, underpinned by powerful brands with market-leading positions in the growing lifestyle categories, an active customer base of 7.1 million loyalty club members and a conservative balance sheet with a cash balance and no net bank debt.”