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- Super Retail Group (SUL) has revised underpayment calculations for workers across its four brands
- The group, which covers household names like Supercheap Auto and Rebel Sport, now owes employees up to $61.2 million
- The revised figure accounts for an additional $8 million in unpaid wages, which weren’t uncovered in the first estimations
- Super Retail Chief Executive Anthony Heraghty said the mistakes were made when calculating worker’s overtime
- Despite this, shares in Super Retail Group gained 2.22 per cent so far today, priced at $9.79 by trading close
Super Retail Group (SUL) now owes employees another $8 million in unpaid wages.
The parent company behind Rebel Sport, BCF, and SuperCheap Auto estimates it now owes employees $61.2 million in back payments.
According to the group, the oversight was made when calculating overtime payouts for its salaried employees. Super Retail is pledging to make up the payments by the end of June.
The company joins several Australian employers that have admitted to underpaying waged employees — including Coles, Woolworths, and the ABC.
“The expectation that a team member gets paid the right amount at the right time is a reasonable expectation, and we should be able to do that,” Super Retail Chief Executive Anthony Heraghty said to The Sydney Morning Herald on Thursday.
Anthony explained that clear missight caused the mistake, without the ‘appropriate diligence’.
“That’s it in a nutshell,” he said.
The Super Retail boss also stressed that the company did not seek to gain any advantage through the underpayments.
Woes don’t stop for the company either though, as it recorded a profit slump in the flurry of half-year round ups hitting the Australian market.
The consumer discretionary supergroup says net income fell 19.9 per cent during the half-year period.
Revenue for the company achieved $1.44 billion — a 2.9 per cent increase compared to this time last year. The company attributed this performance to Rebel Sport and Supercheap Auto, its two largest earners.
Despite the news, shares in Super Retail Group gained 2.29 per cent today. Shares in the top-200 company are trading at $9.79 each at 12:59 pm AEDT.
