Big W sales reached a record $4.6 billion in FY21, increasing 11.6% on the prior year, with all categories experiencing strong growth. Earnings before interest and tax (EBIT) was up 344.9% to $172 million.
Sales growth of 20.1% in the first half moderated but remained positive in the second half at 2.3% as lockdowns across Victoria and New South Wales impacted Q4 sales which saw a decline of 10.4% during the 12-week period.
Ecommerce sales for the year grew 4.6% and penetration reached a record 9.9%, up from 8.4% in the prior year. A new Big W website was launched supported by an evolving online layby solution and expansion of contactless direct to boot, bringing total locations to 76 stores.
Closing inventory was higher than the prior year to support increased sales volumes, as well as normalising from Covid surge buying and stock availability challenges. Average inventory days declined on the prior year due to sales momentum and stock management.