Super Retail delivers $4.2 billion in FY26 sales as new strategy takes shape
In its FY26 full-year results presentation, Super Retail Group reported total sales of $4,200m, up 3.2% with like-for-like growth of +1.8%, delivering positive full-year comparable sales despite significant Q4 disruption from the domestic fuel crisis.
Normalised profit before tax (PBT) of $306.2m was down 7.0%, and normalised net profit after tax (NPAT) came in at $225.9m, down 2.8%. Management framed the profit decline as a consequence of deliberate strategic investments rather than trading weakness, noting net operating profit actually grew +0.7%.
The Group also embedded a new leadership team and outlined a new five-year strategy running through to 2031. A fully franked final dividend of 33 cents was declared, taking full-year ordinary dividends per share (DPS) to 65.0 cents.
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FY26 results at a glance
The headline metrics below summarise the Group’s financial performance for the year ended 27 June 2026.
| Metric | FY26 | FY25 | Change |
|---|---|---|---|
| Total sales | $4,199.8m | $4,070.1m | +3.2% |
| Normalised PBT | $306.2m | $329.4m | (7.0%) |
| Normalised NPAT | $225.9m | $232.4m | (2.8%) |
| Statutory NPAT | $205.9m | $221.8m | (7.2%) |
| Normalised EPS | 100.0¢ | 102.9¢ | (2.8%) |
| Ordinary DPS | 65.0¢ | 66.0¢ | (1.5%) |
| Return on Capital | 16.7% | 17.7% | (1.0ppt) |
Supporting highlights from the period included:
- Net debt of just $14m, comfortably within the targeted gearing range
- Gross margin improved +10 bps to 45.7%
- Operating cash flow of $593.1m, up $15.8m
- Online sales of $552.1m, up 5.3% and representing 13.1% of total sales
What drove the profit picture — investment, not decline
The reduction in PBT was primarily driven by deliberate strategic investments rather than a deterioration in trading. Net operating profit grew +0.7% ($2.4m), while Group and Unallocated costs rose $28.5m over the period.
The key drivers were incremental project investments of $19m, tied to the new Truganina distribution centre and the new HR Core & Payroll system, alongside higher net interest of $6.6m reflecting a lower average cash position following the FY25 special dividend.
The H1 FY26 results had already flagged the Truganina distribution centre as a driver of future operating efficiencies, with Macpac posting a standout profit surge and the Group carrying a net cash position of $107.8 million into the second half.
At the segment level, PBT gains were reported at Supercheap Auto (+$6.4m), rebel (+$4.3m) and Macpac (+$3.3m), partly offset by a decline at BCF (-$8.7m).
Management Commentary
The presentation positioned FY26 as a year of deliberate reinvestment, with the transition to the Truganina distribution centre on track and the HR Core & Payroll system now operating across the business, laying the operational groundwork for the Group’s five-year strategy.
How the four brands performed
Performance varied across the four brands, with automotive and sporting goods leading and outdoor categories more exposed to the Q4 disruption.
| Brand | FY26 Sales | Segment PBT | LFL Growth | Total Growth |
|---|---|---|---|---|
| Supercheap Auto | $1,591.6m | $203.3m | +2.7% | +3.9% |
| rebel | $1,422.7m | $105.1m | +3.8% | +4.5% |
| BCF | $952.7m | $52.3m | (2.1%) | +0.2% |
| Macpac | $239.5m | $13.6m | +1.5% | +3.5% |
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Supercheap Auto: Delivered market share gains and completed over 1 million fitments (up 12%), while launching a new “Spend & Get” loyalty program. Fourth-quarter demand moderated due to the onset of the fuel crisis.
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rebel: Reported a standout licensed apparel performance around the FIFA Men’s World Cup, with gross margin up 60 bps on improved promotional discipline and a more favourable product mix.
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BCF: Faced a challenging year lapping a strong FY25, impacted by environmental factors and the fuel crisis over the crucial Easter period, though it achieved a record club member NPS of 77.
The fuel crisis trading update from May 2026 showed BCF recording negative total sales growth of -0.3% for the first 44 weeks of the year, providing early visibility into the category-level damage that would crystallise in the full-year BCF segment result.
- Macpac: Grew segment PBT by 32% (44.7% at constant currency) and recorded a record club NPS of 75, with a mild winter moderating Q4 demand.
The loyalty engine — why club members matter
Super Retail Group’s results underscored this trend. Active club members grew to 13.1m (up 4.8%), and club members now represent 85.5% of retail sales, up 1.5 percentage points. Customer NPS rose 3 points to 74.
The multi-year trajectory is notable, with club member share of retail sales climbing from 67% in FY21 to 86% in FY26. An increasingly loyal and engaged customer base can underpin resilience and support future growth potential.
A clear roadmap to 2031
Management outlined a new five-year strategy targeting a $65 billion total addressable market across the auto, sport and outdoor categories, where the Group holds single-digit to low-double-digit share, signalling headroom for growth.
The presentation detailed Project Ignite, the Group-wide transformation program announced at the June 2026 Investor Day and built on four pillars: Customer, Team, Flow and Value. Each brand also carries defined growth engines, spanning range, format and fitment at Supercheap Auto; regional stores and private brand at rebel; superstores and 4WD fitment at BCF; and product, brand awareness and network at Macpac.
The addressable market breakdown outlined was:
- Auto market: $30bn total (Supercheap Auto core share ~9%)
- Sport market: $25bn total (rebel core share ~10%)
- Outdoor market: $13bn total (BCF leisure ~12%; Macpac adventure ~6%)
The store network reached 797 stores following 15 net new openings in FY26, with the Group targeting 18 net new stores in FY27.
FY27 outlook and capital plans
The FY27 trading update covering the first seven weeks showed Group like-for-like sales growth of +1.5% and total sales growth of +3.5%. By brand, Supercheap Auto led with LFL of +4.0%, followed by rebel at +1.1% and BCF at +0.4%, while Macpac was down 8.9% amid ongoing mild winter conditions.
Management balanced this positive momentum against flagged headwinds, including lingering fuel crisis effects, elevated tensions in the Middle East, and domestic pressures such as rising interest rates, elevated inflation and housing market strain weighing on consumer confidence.
Key FY27 guidance figures outlined were:
- Targeted capex of $160m, the majority technology and systems based for Project Ignite
- Group and unallocated costs of approximately $60m (~$30m corporate, ~$30m Project Ignite)
- Dividend policy maintained at 55%–65% of underlying NPAT, fully franked
The Group enters FY27 with a strong balance sheet and a defined transformation agenda, while acknowledging the near-term uncertainty around consumer conditions as it progresses its roadmap to 2031.
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