Super Retail's share price falls 14%

The share price of Super Retail Group initially fell 25% after the company announced that its interim profit would be flat at around $61m despite a 6% increase in sales to $1.1bn. It’s not surprising that investors took cover given the company’s price-to-earnings ratio (PER) was an optimistic 24 prior to the announcement. Though details weren’t available, chief executive Peter Birtles said operating margins were broadly in-line with previous periods and same-store sales continued to be solid across the company’s brands, which include Supercheap Auto, Ray’s Outdoors and Rebel Sport. On the flipside, the result was marred by problems...

The share price of Super Retail Group initially fell 25% after the company announced that its interim profit would be flat at around $61m despite a 6% increase in sales to $1.1bn. It’s not surprising that investors took cover given the company’s price-to-earnings ratio (PER) was an optimistic 24 prior to the announcement.

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