Australia's Accent Group rises after Citi says not concerned about rival's expansion
11/06/2026 05:27
BUZZ-Australia's Accent Group rises after Citi says not concerned about rival's expansion ** 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)
Recent news on Super Retail
See all newsCiti cuts earnings forecast, PT for Australia's Super Retail on rising costs
Australia's Accent Group rises after Citi says not concerned about rival's expansion
Australia's ARB falls after Citi flags competition woes on Super Retail expansion
Australia's Super Retail jumps on planned store expansion
Australia's Super Retail logs sixth week of losses as M.East war dents sales