Australia's ARB falls after Citi flags competition woes on Super Retail expansion

ARB

Thu 04:47

** Shares of auto parts provider ARB Corp ARB.AX falls as much as 4.4% to A$18.02, their biggest intraday pct loss since April 20
** Peer Super Retail GroupSUL.AX set plans to increase store portfolio from 790 to over 900 by 2031
** Citi sees competition increasing for ARB due to expansion of Supercheap Auto’s product range 
** Shares hit lowest level since June 4
** YTD, ARB down 42%

 (Reporting by Nichiket Sunil in Bengaluru)
 ((Nichiket.Sunil@thomsonreuters.com))