A major Australian retailer will ramp up its store footprint as it ruthlessly chases market share across the automotive, outdoor and sporting goods sectors.
Super Retail Group, which owns Supercheap Auto, Macpac, BCF, and Rebel, made the announcement at an investor day in Sydney, where it laid out a new five-year plan.
“We have to be ruthless in the decisions that we make and the categories that we go after, and that is exactly what we will do,” chief executive Paul Bradshaw said on Thursday.
Super Retail has a $4 billion share of a total market it believes is worth $65 billion across the auto, outdoor and sport categories.
This means all four brands have significant room for growth, with Supercheap Auto having a nine per cent market share, Rebel 10 per cent, BCF 12 per cent and Macpac six per cent, he said.
“For me, you’ve got to own the categories that you play in and give your customers exactly what they want in those categories,” Mr Bradshaw said.
To that end, Super Retail will expand its stores to 900 from 790 by 2031, focusing on under-represented regional areas with new formats, under its Ignite program.
The expansion will be funded through its existing annual capital expenditure budget of about $150 million.
While the stock exchange-listed group said it will incur annual project costs of $30 million over the next three years, it also expects to save about $75 million a year by the 2029 financial year.
Its strategy also includes meeting demand created by the national uptake of electric vehicles.
“Retail is changing at the fastest pace I’ve ever known,” Mr Bradshaw said.