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SUPER RETAIL GROUP LIMITED — Capital/Financing Update 2012
Oct 21, 2012
65878_rns_2012-10-21_a3bdbba9-878d-44d8-9f23-1a29d182c0e0.pdf
Capital/Financing Update
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22 October 2012
ASX Announcement/Media Release
Super Retail Group Limited (SUL) Trading Update at 2012 Annual General Meeting
Super Retail Group (SUL) will provide an update on trading performance so far this year at today’s annual general meeting.
In the 16 weeks to 20 October 2012, like for like sales growth across the Group’s three divisions has been as follows:
Auto Retailing 5.8% Leisure Retailing 4.0% Sports Retailing 8.9%
Mr Birtles, Managing Director and Chief Executive Officer, Super Retail Group said, “We are confident that we can continue to deliver like for like sales growth even if retail conditions remain subdued. The rate of like for like sales growth in Sports Retailing will slow from the beginning of November as we cycle more challenging comparative sales driven by initiatives introduced following acquisition.”
“We expect to be able to open around 10 new stores in each of our Auto and Sports divisions (including five Goldcross conversion stores) and up to 20 stores in our Leisure division. We expect to close two Auto stores and convert up to nine Goldcross stores to other brands across the Group.”
“We remain on track to see a small improvement in EBIT margins in our Auto and Leisure divisions and to deliver a full year EBIT margin of around 11% in our Sports division in line with our acquisition assumptions.”
“We have recently launched the Supercheap Auto Club Plus loyalty program and also began the trial of a new offer for the trade mechanic customer in New Zealand trading under the brand Auto Trade Direct. “
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Super Retail Group Limited
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“We expect our capital expenditure to be around $90 million in the year ahead as we continue to invest in new stores and store refurbishments, commence the development of new distribution centres in Sydney and Brisbane and continue our investment in our CRM and multi-channel capabilities.”
ENDS
For further information please contact:
Peter Birtles Gary Carroll Group MD and CEO CFO Super Retail Group Super Retail Group 07 3482 7500 07 3482 7500
Media Enquiries, please contact:
Stephanie Paul Managing Director Phillips Group 07 3230 5000