The Super Retail Group Ltd (ASX: SUL) share price is in the spotlight today as the company outlines its ambitious new five-year strategy, including a transformation program and plans to boost its store network beyond 900 locations by 2031.
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What did Super Retail Group report?
- Unveiled a five-year plan to grow across its auto, sport, and outdoor businesses
- Set targets to expand store numbers from 790 to over 900 by 2031
- Announced the Ignite program, aiming for around $75 million in annual cost savings by FY29
- Annual capital expenditure forecast at approximately $150 million
- Transformation project expected to cost $30 million per year for the next three years
What else do investors need to know?
Super Retail Group is focusing on expanding Supercheap Auto's product range, particularly to capture growth in electric vehicles and introduce new store formats. Its rebel brand is set for increased regional expansion and "owning sport," while BCF will push into the 4WD market and open more large-format stores.
The Macpac brand will keep growing its network and building recognition in Australia, with a focus on high-tech product innovation. Group-wide, these moves will lift Super Retail Group's store and online presence, helping reach more customers through omni-channel initiatives such as click and collect.
What did Super Retail Group management say?
Managing Director and Chief Executive Officer Paul Bradshaw said:
Our new Group Strategy puts the customer at the centre of everything we do as we build our business for its next phase of growth… We have launched a significant transformation program to help power this growth. This will require deliberate short-term investments in our systems and unlock a sustainable cost advantage over time.
What's next for Super Retail Group?
Looking ahead, Super Retail Group plans to fund its strategic investments within its existing capital expenditure envelope, keeping project costs disciplined. Management anticipates the Ignite program will both modernise workflows and drive operational savings to reinvest in further growth.
Investors can expect the Group to focus on scaling its brands and deepening customer engagement across both physical stores and online, with particular attention to underrepresented regions and new store formats.
Super Retail Group share price snapshot
Over the past 12 months, Super Retail shares have declined 16%, trailing the S&P/ASX 200 Index (ASX: XJO) which has risen 1% over the same period.
