Macpac’s total sales have increased by 55 per cent to $101 million in the first half of FY23, driven by La Niña weather conditions and outbound tourism.
Its like-for-like sales increased by 69 per cent in Australia and by 32 per cent in New Zealand.
La Niña weather conditions helped drive strong growth in insulation and wet weather apparel sales, while key travel categories including backpacks, thermals and luggage benefitted from growth in outbound tourism. Macpac launched an expanded summer range, which is cited as another key reason for growth in travel categories.
Macpac’s active club membership grew by 35 per cent and club members represented 74 per cent of total sales. Online sales of $19 million represented 18 per cent of total sales, with Click & Collect representing 17 per cent of online sales.
Macpac opened three stores and closed one store resulting in 87 stores at period end.
Anthony Heraghty, MD and CEO of Macpac’s parent company Super Retail Group, said the strong sales momentum for is four brands (also including Rebel, BCF and Supercheap Auto) has continued into January.
“Low unemployment and accumulated savings are continuing to support consumer spending, however rising interest rates are expected to dampen consumer demand later in the second half,” Heraghty said.
“We remain optimistic that the business will continue to perform throughout the economic cycle, supported by our customer base of 9.7 million active club members, the strength of our brands, ongoing network expansion and roll-out of new store formats, and our leading market positions in attractive and growing lifestyle categories.”
The Group expects to incur $125 million of capital expenditure in FY23 to fund its store development program and investment in omni, loyalty and digital capability.
Group and unallocated costs in the second half are expected to be $26 million.