Australia's Accent Group rises after Citi says not concerned about rival's expansion

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11/06/2026 05:27

** Shares of sports goods retailer Accent Group AX1.AX rise as much as 1.6% to A$0.655, their highest level since April 22
** Citi says not "incrementally any more concerned" about pressure facing Accent's Sports Direct chain of stores as competitor Super Retail GroupSUL.AX expands, including its sports business Rebel
** Citi says Rebel's store expansion focused on regional catchments, where brokerage thinks it is unlikely that Sports Direct would expand to in the near term
** Citi 'neutral' on AX1, compared to an average 'hold' rating among 11 analysts, as per LSEG-compiled data
** YTD, AX1, down 31.2%

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