Search by ticker code:
Generic filters

Search by ticker code:
Generic filters

Search by ticker code:
Generic filters

Super Retail Group Ltd (ASX:SUL) Share Price Falls 11% On Trading Update

The Super Retail Group Ltd (ASX: SUL) share price fell nearly 11% on Wednesday after giving its trading update for the first 16 weeks of FY19 and announcing there will be a new CEO. Super Retail Group is a retail business which operates Supercheap AutoRebelBCF and Macpac.

Trading update:

The company revealed that Supercheap Auto grew sales by 4.1%, with like for like (LFL) sales growth of 3.1%. Rebel’s sales were up 4% and it achieved LFL growth of 2.4%. BCF sales increased by 1.7% and it increased LFL sales by 2.4%. Super Retail is in the process of integrating Rays into the Macpac business and converting Rays stores into Macpac ones. Macpac reported sales growth of 17.6% and LFL sales growth of 8.4%. However, current Super Retail CEO Peter Birtles warned conditions may be getting harder: “There are some signs that the retail consumer is being more cautious so it will be very important that our businesses get the balance right between balancing sales and managing margin as we move into the major trading period of the year.”

New CEO and Managing Director

CEO & MD Peter Birtles will retire in the second quarter of the calendar year. Chairperson Sally Pitkin said: “The Board and Peter have been engaged in ongoing discussions about succession planning for some time and we agree now is the appropriate time to announce Peter’s intention to retire from Super Retail Group in 2019.” Super Retail recently reported profit growth of 26% in its FY18 result.

Free Investing Report: 3 Proven ASX Shares

(sponsored) The Rask Group has just issued an investing research report on 3 proven ASX dividend + growth sharesClick here to access the free report. No credit card or payment required.

$50,000 per year in passive income from shares? Yes, please!

With interest rates UP, now could be one of the best times to start earning passive income from a portfolio. Imagine earning 4%, 5% — or more — in dividend passive income from the best shares, LICs, or ETFs… it’s like magic.

So how do the best investors do it?

Chief Investment Officer Owen Rask has just released his brand new passive income report. Owen has outlined 10 of his favourite ETFs and shares to watch, his rules for passive income investing, why he would buy ETFs before LICs and more.

You can INSTANTLY access Owen’s report for FREE by CLICKING HERE NOW and creating a 100% FREE Rask Account.

(Psst. By creating a free Rask account, you’ll also get access to 15+ online courses, 1,000+ podcasts, invites to events, a weekly value investing newsletter and more!)

Unsubscribe anytime. Read our TermsFinancial Services GuidePrivacy Policy. We’ll never sell your email address. Our company is Australian owned.

Information warning: The information on this website is published by The Rask Group Pty Ltd (ABN: 36 622 810 995) is limited to factual information or (at most) general financial advice only. That means, the information and advice does not take into account your objectives, financial situation or needs. It is not specific to you, your needs, goals or objectives. Because of that, you should consider if the advice is appropriate to you and your needs, before acting on the information. If you don’t know what your needs are, you should consult a trusted and licensed financial adviser who can provide you with personal financial product advice. In addition, you should obtain and read the product disclosure statement (PDS) before making a decision to acquire a financial product. Please read our Terms and Conditions and Financial Services Guide before using this website. The Rask Group Pty Ltd is a Corporate Authorised Representative (#1280930) of AFSL #383169.

Skip to content