Super Retail Group Ltd

SUL: XASX (AUS)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
	A$34.00	Qkfxdzr	Pbftrwqpj

Super Retail Group: Operating Deleverage on the Cards Owing to Muted Sales Growth

Johannes Faul

Aug 22, 2024

Business Strategy and Outlook

Super Retail Group operates in Australia and New Zealand, selling automotive parts and accessories, sporting goods, and outdoor leisure equipment. The group is the market leader in all three segments in Australia, with about 20%-30% market share in auto parts, camping equipment, and sporting goods retailing. However, we believe formidable competition will constrain operating margins as the firm competes on price to maintain market share.

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