Super Retail Group Consolidates Sports Division
No-moat Super Retail Group has announced that its sports retailing division will be retiring the Amart Sports brand and focusing solely on Rebel. We view this consolidation positively, as it allows management to concentrate its energy on a single brand and accelerate its private-label aspirations. Nevertheless, we see the sports division as the most vulnerable to the evolving competitive environment, and we retain our fair value estimate of AUD 9 per share.The focus on the Rebel brand is sensib...
Super Retail Group's main activities are result in the following business segments: Auto, which include retailing of auto parts and accessories, tools and equipment; Leisure, which include retailing of boating, camping, outdoor equipment, fishing equipment and apparel; and Sports, which include retailing of sporting equipment, bicycles, bicycles accessories and apparel. Co.'s principal brands include Amart Sports for sports products such as equipment, apparel and associated accessories; BCF for an outdoor retailer; Rays for an outdoor entertainment and camping leisure retailer; Rebel for sporting and goods such as fitness equipment; and Supercheap Auto for automotive parts and accessories.
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