Super Retail Group (SUL)
All research reports and stock updates for Super Retail Group.
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Turning a corner
Inflation is persisting for retail companies, supporting sales growth, and inventory concerns have eased compared to last year.
Slippery trail
The positive January trading update for Super Retail Group has provided a false sense of comfort in the sustainability of sales growth this year. Inflation will begin to fade, and consumer spending may echo this as confidence wanes with household budgets under pressure.
Tent sagging
Strong consumer demand and higher prices are supporting an extended run of good sales growth. But we see a gradual earnings decline over the next two years as sales mellow and cost increases bite.
All good things...
A rugged sales performance from Super Retail Group has been overshadowed by concerns on inventory levels and rising costs. These fears are logical but unwarranted, in our view.
Shelf life
Super Retail Group is feeling the benefit of having ‘fortified’ its inventory earlier this year. The inevitable post-COVID sales normalisation is happening, but SUL’s brands are still producing good sales growth.
Boxing on
In a half of two quarters, Super Retail Group has regathered its sales momentum as the COVID impacts recede.