Australia's Super Retail slips on weak sales

SUPER RETAIL

16/01/2026 03:22

** Shares of Australia's Super Retail SUL.AX down 6.4% so far this week, set for their steepest weekly drop since February 21, 2025, if losses hold

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

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

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

** Sporting retail arm Rebel's weak sales stem from rivals' aggressive promotions, not Sports Direct; warns risk of fallout could rise as Sports Direct scales, potentially straining Rebel's brand ties - Jefferies

** SUL last up 1.1%, paring YTD losses to 8.2%

($1 = 1.4923 Australian dollars)

(Reporting by Keshav Singh Chundawat in Bengaluru)

((Keshav.singhchundawat@thomsonreuters.com))