Modest Outlook Maintained For Super Retail

Broker views diverge somewhat on the outlook for Super Retail’s (SUL) businesses in FY16. The company’s AGM revealed automobile and sports categories are performing best, while leisure continues to experience softness related to restructuring activities. The margin in leisure was lower largely because of clearance activity at Ray’s Outdoors and a continued focus on competitive pricing at BCF.

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Leisure Drags On Super Retail

Super Retail (SUL) is a poster child for the struggle retailers are having with an inconsistent start to FY15. Several brokers have now put opinions on hold until the company decides what to do with its leisure division. Trading over the first 16 weeks showed a slight improvement, but at its AGM the company said it expects gross margins to be flat on a full year basis. That spells further discounting for brokers.

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Super Ambitious Group

Last week, Super Retail Group Limited (ASX: SUL) reported to an uncertain retail sector. Having a flick through their investor presentation and the group’s financials – and considering some of the headwinds over the last financial year – it’s quite a fair result. Below is a copy of some slides from their presentation that gives a high-level overview of the firm’s performance over the past several years.

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