Australia's Super Retail drops to over 5-month low on H1 earnings miss

SUPER RETAIL

12/01/2026 03:29

Updates

** Super Retail SUL.AX falls 5.6% to A$14.84, set for its weakest session since February 20, if losses hold

** Stock drops to its lowest level in more than 5 months

** The retailer posts first-half sales of A$2,195 million ($1.47 billion), ~1% below Citi's forecast, but in line with VA consensus, as per to a Citi note

** Co's outlook of H1 underlying PBT at A$172 million - A$175 million is ~9% below Citi's estimates, and 7% below VA consensus at the midpoint

** Jefferies says co managed decent sales overall, but had to offer more discounts than expected because of category-specific issues, softer retail environment in December

** Adds that sporting retail arm Rebel's weak sales stem from rivals' aggressive discounts, not Sports Direct; warns risk could rise as Sports Direct scales, with brand ties under strain

** SUL stock up 7.3% in 2025

($1 = 1.4934 Australian dollars)

 (Reporting by Shruti Agarwal and Kumar Tanishk in Bengaluru)

 ((Shruti.Agarwal@thomsonreuters.com))