Super Retail Group anticipates subdued December half-year
Retail giant Super Retail Group is anticipating a somewhat subdued December half-year performance, revealing a modest 'record' sales achievement for the period on Monday.
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Super Retail Group Limited
Super Retail Group’s story began in the 1970’s with the founding and development of a number of individual family owned businesses. Each shared a similar DNA of being uniquely Australian, challenging the status quo and building a community of customers by helping people live their passions.
Super Retail Group brought this family of like-minded businesses together to form the Super Retail Group, and have continued that legacy of supporting customers and their passions. We go above and beyond to deliver what our customers need because we’re as passionate as they are.
It is this commitment that has seen us grow into the leader in retailing of auto, sport and outdoor leisure products in Australia and New Zealand. Proudly headquartered in Brisbane, our network extends to over 670 retail stores and more than 12,000 team members across Australia, New Zealand and China. Today, Super Retail Group has grown to one of Australasia’s largest retailers, housing iconic brands including BCF Boating Camping Fishing, Macpac, Rebel and Supercheap Auto, with an annualised turnover in excess of $2.5 billion.
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News
Super Retail Group (ASX:SUL) boosts dividends amidst positive sales and earnings
Super Retail Group (ASX:SUL) has announced a special dividend of 25 cents per share alongside a final dividend of 44 cents, following the company's report of increased sales and earnings for the year ending on July 1.
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Stock Scuttlebutt: NEC, SUL
The Macquarie conference this week has proved a bit of a confessional for the presenting companies, and Nine Entertainment and Super Retail were no different on Thursday.
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Super Man Finally Hangs Up His Cape
Reg Rowe, founder of Super Cheap Auto and then CEO and chair of its listed successor Super Retail Group, has stepped down after a 51-year association with the company.
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Bourse Discourse: SUL, BBN
Mixed results for the December half on Monday from two specialist retailers, with Super Retail reporting record sales and Baby Bunting suffering a near 60% slump in earnings.
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Analyst Views
SUL – Citi rates the stock as Buy
Citi notes a strong result was delivered amid gross margin expansion in FY21. Buy rating and $14.40 target price.
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SUL – Macquarie rates the stock as Neutral
Neutral maintained. Target rises to $13.00 from $11.70, driven by upgrades to FY22 earnings estimates.
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SUL – UBS rates the stock as Buy
First half results were in line with guidance and UBS notes cash flow was strong. UBS retains a Buy rating. Target is raised to $12.80 from $12.60.
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SUL – Credit Suisse rates the stock as Outperform
Super Retail Group noted a net profit rise of 137% in the first half with sales revenue increasing by 23%. Credit Suisse has more confidence than the market in the company's FY22 earnings prospects. Target price is $13.19.
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