Super Retail Group subsidiary Rebel has reported a one per cent fall in total sales to $1.29 billion for FY24.
The brand’s like-for-like sales decreased by 2 per cent, with Super Retail Group citing lower transaction volumes and lower average transaction value (ATV).
The fall in yearly sales at Rebel defied an overall sales lift of 2 per cent for Super Retail Group, hitting $3.9 billion. The group also includes outdoor apparel brand Macpac, alongside retail businesses BCF and Supercheap Auto.
According the parent company, performance sports was the best performing category at Rebel, benefitting from strength in football and licensed apparel.
The brand’s operating profit (EBIT) fell by 25 per cent to $121 million. Profit before tax (PBT) also declined by 330 basis points (bps) due to a 120 bps decline in gross margin and higher operating expenses. As a result, Rebel’s (PBT) of $102 million was 30 per cent lower than the prior year.
Online sales at Rebel grew by 12 per cent to $222 million and represented 17 per cent of total sales. Click & Collect accounted for 28 per cent of online sales.
In October 2023, Rebel relaunched its ‘rebel Active’ loyalty program, which provides club members with exclusive benefits and offers and the ability to earn and redeem points on purchases. Super Retail Group reported that some 84 per cent of club members have earned loyalty points in the new program and 34 per cent have redeemed points during the period.
“The average sales multiplier for each dollar redeemed using points under the program is over 12 times,” the group reported. “Active club membership grew by four per cent to 3.9 million and club members represented 77 per cent of total sales.”
Rebel opened one new store and closed one store, resulting in 159 stores at period end.
On the group level, gross margins were up 10 basis points to 46.3 per cent, while EBIT was down 9 per cent to $400 million. PBT was down 12 per cent to $343 million, while statutory net profit after tax was down 9 per cent to $240 million.
“Super Retail Group delivered a solid financial performance in FY24 as record sales and higher gross margin helped mitigate the impact of inflation on our cost base,” group managing director and CEO Anthony Heraghty said. “In a macroeconomic environment where cost-of-living pressures are dampening consumer spending, the delivery of top-line growth is a testimony to the strength of our four core brands and the resilience of the categories in which we operate.”
Looking ahead for Rebel, total sales in the first seven weeks of FY25 were up one per cent, with the parent company citing footwear and apparel as a key driver for higher sales at the sporting retailer. This is cycling elevated sales of licensed products in the prior corresponding period relating to the FIFA Women’s Football World Cup.