Super Retail Group Limited
(ASX:SUL) says sales across all three of its divisions has been promising and it is well under way with the transformation of its Ray’s Outdoors business.
Sales for the year to date are up 9 per cent in Sports retailing, 6 per cent in Auto and Leisure Retailing is clocking a 5.5 per cent rise which is slightly below last year’s growth.
The Group says it has rebranded the Ray’s Outdoors business to RAYS and five pilot concept stores have shown strong promise. The network will however produce a loss this financial year.
A strategy to close or rebrand under-performing stores and update profitable stores to the new concept should reap benefits however there will be a $38 million write down of the business in addition to the $20 million impairment taken at the half year.
Super Retail reported an interim net profit of $41.5 million at the end of December 2015.
