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Super Retail (ASX:SUL) Shares Sinks 9%

The Super Retail Group Ltd (ASX:SUL) share price declined 8.8%, more than reversing the gains of yesterday.
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Jaz Harrison

Jaz is a Staff Writer for Rask. She is a keen investor who loves to thoroughly poke holes in an investment idea before it has a chance of making it into her portfolio. Jaz invests for the long-term and doesn't sweat the small stuff. She strongly believes that empowering people with knowledge is the best way for them to take charge of their finances, which is exactly the approach she takes with her own money and investments.
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The Super Retail Group Ltd (ASX: SUL) share price declined 8.8%, more than reversing the gains of yesterday.

Super Retail Group is a retail conglomerate that traces its history back to the 1970s, it’s now one of the biggest in the country. It operates a number of recognisable retail brands including BCF Boating Camping Fishing, Macpac, Rebel,  and Supercheap Auto. It’s headquartered in Brisbane and has over 12,000 employees in Australia, New Zealand and China.

Super Retail Shares Suffer

The Super Retail share price has suffered a steep decline today, despite yesterday’s fairly pleasing update.

Super Retail Group achieved 4.3% like for like (LFL) sales growth in the first 17 weeks of the second half of FY19. When added to the first half’s figures, the Super Retail Group has achieved total sales growth of 4.4%, with like for like sales growth of 3.3%.

However, with continuing falls for house prices and a tough retail operating environment, it seems as though seem investors are having a second think about holding onto their shares.

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