Australia's Super Retail slides to near 3-yr low as Mideast war weighs on sales; Jefferies cuts PT

SUPER RETAIL

07/05/2026 05:50

Updates

** Super Retail SUL.AX slumps as much as 13.55% to A$10.08, hitting a near three‑year low and marking its sharpest intraday fall since February 20, 2025

** Automotive parts retailer posts 0.4% rise in H2 FY26-to-date group like‑for‑like sales, momentum across all four brands slowing after the onset of the Middle East conflict

** Co says group's gross margin in H2 tracking modestly below the prior comparable period

** Total unallocated FY26 costs now expected at A$66 million($47.75 million), up from A$60  million - SUL

** Jefferies cuts PT to A$12 from A$16, maintains "hold"

 ** Brokerage says co shows "bleak consumer fundamentals", adds update confirms rate hikes, higher fuel prices starting to impact demand

 ** Jefferies expects unallocated costs for co to remain elevated, tracking current inflationary environment

** YTD, SUL down 29.7%

($1 = 1.3822 Australian dollars)

 (Reporting by Kumar Tanishk and Aamir Sheik Khalid in Bengaluru)

 ((Tanishk.Kumar@thomsonreuters.com; X: @thatstanishk http://www.x.com/thatstanishk; Aamir.SheikKhalid@thomsonreuters.com))