Street View: Headwinds for Australia's Super Retail from rate hikes, costs

SUPER RETAIL

26/10/2023 02:53

** Australia's auto parts retailer Super Retail  SUL.AX  on
Wednesday released results of its first 16 weeks of fiscal 2024,
reporting sales growth of 4% and like-for-like sales growth of
2%
    ** Citi ("neutral", PT: A$13.20) believes rate hikes in
November and December are likely to affect co's trading during
Black Friday and Christmas period
    ** Jefferies ("underperform", PT: A$10.30) expects cost
headwinds to remain and Christmas trading to have an impact on
1H FY24 results
    ** Morningstar (fair value: A$10.50) says
better-than-expected performance of discretionary leisure goods
retailing, including sporting and camping goods 
    ** Anticipates consumer demand for discretionary goods will
revert to category trend levels and leave long-term sales and
earnings forecasts intact - Morningstar analysts 
    

 (Reporting by Roshan Thomas in Bengaluru)
 ((Roshan.Thomas@thomsonreuters.com;))