0129 GMT - Sports Direct's expansion into Australia looks like a bigger threat to Super Retail Group than local hardware giant Bunnings' efforts to take a slice of its auto-accessory sales, Jefferies analyst Michael Simotas reckons. Sports Direct's owner has partnered with locally listed Accent Group to roll out the chain Down Under, which Simotas warns could lead to both a sales headwind and margin pressure for Super Retail's Rebel Sport chain could face. Rebel has a dominant 27% share of Australia and New Zealand's fitness and athletic retail market, he adds in a note. Jefferies cuts its target price by 13% to A$13.00 and maintains a hold rating on the stock, which is down 2.6% at A$12.39. (stuart.condie@wsj.com)
(END) Dow Jones Newswires
April 15, 2025 21:29 ET (01:29 GMT)
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