First Impression: Super Retail (SUL) Full year Result

Bell Potter


Like-for-like (LFL) growth: Auto 4.4% LFL growth (vs 3.9% for 1H16). Cycling FY15 LFL growth of 2.2%.o Sports 6.3% LFL growth (vs 6.1% for 1H16). Cycling FY15 LFL growth of 6.6%. Leisure 4.4% LFL growth (vs 2.6% for 1H16). Cycling FY15 LFL growth of -0.6%. EBIT margins: Auto EBIT margin of 11.3%, +0.1% movement vs pcp;. Leisure EBIT margin of 3.2%, -2.7% movement vs pcp; Sports EBIT margin of 9.5% +0.9% movement vs pcp | Sales trading update for first 7 weeks of 1H17: Auto 3.5% (cycling +2.5%); Sports 4.0% (cycling 4.5%); and Leisure 10.0% albeit with benefit of Ray’s clearance as part of restructure (but also cycling +10.4% due to the clearance program in Rays in the pcp) | Store development plan in FY17:Auto: Open 15 stores and close one. 50 refurbishments; Leisure: Ray’s clearance activity and store closures are on track. To open 14 BCF stores (3 new sites and 11 conversions for Ray’s sites);Sports: Open 2 Rebel stores and 12 Amart Sports stores (including 5 conversion of Ray’s sites).

1 stock mentioned

Bell Potter Securities is a leading Australian stockbroking, investment and financial advisory firm that provides a comprehensive offering of financial services to a diversified client base that includes individuals, institutions and corporations.

I would like to

Only to be used for sending genuine email enquiries to the Contributor. Livewire Markets Pty Ltd reserves its right to take any legal or other appropriate action in relation to misuse of this service.

Personal Information Collection Statement
Your personal information will be passed to the Contributor and/or its authorised service provider to assist the Contributor to contact you about your investment enquiry. They are required not to use your information for any other purpose. Our privacy policy explains how we store personal information and how you may access, correct or complain about the handling of personal information.