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Super Retail Group (ASX:SUL) forecasts H1 FY24 revenue of $2B

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Super Retail Group anticipates FY24 first-half revenue to reach $2 billion, with a projected pre-tax profit between $200 million and $203 million.

Despite positive like-for-like sales growth in the first half, the end of the second quarter saw a more constrained retail trading environment due to living cost pressures on consumers.

The company said that while the gross margin in H1 FY24 is expected to surpass H1 FY23, the cost of doing business as a percentage of sales has increased due to inflationary impacts on wages, rent, and electricity.

The company, which owns Supercheap Auto, Rebel, BCF, and Macpac, is set to unveil its FY24 first-half results on Feb. 22.

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