Report
Tony Sherlock
EUR 101.80 For Business Accounts Only

Super Retail Group Rebels Against Super Cheap Online Competitors

No-moat-rated Super Retail Group provided a strategy update on June 14, touting its omnichannel offering and product expertise as key differentiators. Management outlined its five-year EBIT margin targets and its focus on improving customer engagement and investment in the digital offering of each of the group's businesses to combat increasing competitive pressures. Shares in Super Retail are trading at a 14% discount to our unchanged fair value estimate of AUD 9 per share.
We believe management...
Underlying
Super Retail Group Limited

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.

Provider
Morningstar
Morningstar

Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.

Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.

We have operations in 27 countries.

Analysts
Tony Sherlock

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