Super Retail Group's Mixed Interim and CEO's Early Departure Don't Move Our AUD 7.50 FVE
We maintain our AUD 7.50 fair value estimate for no-moat-rated Super Retail Group. A mixed first-half performance across the three business segments leaves our estimates virtually unchanged. Super Retail is currently trading 5% above our intrinsic value. The company reported sales and operating profits for the half, with the outstanding accounts due Feb. 14.First-half sales growth in the highest-margin auto segment fell short of our previous estimate but was offset by stronger-than-forecast sal...
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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