Super Retail Group is off to a strong start for the first year reporting a 74 per cent increase in net profit after tax to $60.6 million.
Jewellery chain Pandora outshined its fellow competitors after being awarded the 2012 Visa Australian Retailer of the Year award at the ARA Australian Retail Awards breakfast.
Super Retail Group has appointed David Burns as its new chief financial officer.
Super Retail Group has shown while times are difficult achieving sales growth is still possible after the company provided an update on its first quarter trading.
Super Retail Group has bought a 50 per cent stake into sports licensing agency Velocity Brand Management's retail business VBM Retail.
Super Retail Group's Rebel Sports has unveiled a mobile OHS audit software solution which will be used to protect 5,000 staff across its network of 140 stores.
In the 17 weeks to 18 April 2012, its sales growth of its Auto & Cycle and Sports division were both up 3 per cent whiles its leisure division experienced a 2.3 per cent rise.
It announced group sales for the 26 weeks to 31 December 2011 is expected to be $758.6 million, mainly contributed to the success of the Rebel Sports and Amart All Sports businesse.
As part of completing its acquisition of Rebel Group from Archer Capital, Super Retail Group has appointed Erica Berchtold as managing director of sports retailing.
The group reported sales for auto and cycle division is up 6 per cent and its leisure division is up 50 per cent.
Super Retail Group has expanded its existing retail portfolio with the acquisition of Rebel from Archer Capital for $610 million.
The company's managing director Peter Birtles says the positive results reflect the strength of the company’s business model in a time where there is a widespread slowdown in retail spending.
Taking advantage of the recently launched Google Shopping in Australia is Super Retail Group that will be signing itself up as a foundation retailer on the platform.
The times were tough but Super Retail Group was able to maintain its sales and succeeded with a 60 per cent increase in net profit after tax to $24.9 million for its half year results of 2011.
The group said it expects its net profit after tax for the 26 weeks to 1 January 2011 will be between $24.5 and $25 million.