Super retail (ASX:SUL) posts positive first quarter
Super retail group (ASX:SUL) has posted a positive result in the first quarter of the 2020 financial year the Group has delivered total sales growth of 4.2 per cent and like for like sales growth of 3.2 per cent.
The company says it has made a solid start to the year. While retail consumer sentiment remains mixed, the group has delivered strong sales growth and like for like sales growth across its three largest brands.
In response to more cautious consumers the company has activated a higher level of promotional activity activity across the business which has successfully generated top line growth but adversely impacted margin.
The Group says its first half result will be highly dependent on the Christmas trading period.
Shares in Super Retail (ASX:SUL) are trading 5.96 per cent lower at $8.99.
Copyright 2019 – Finance News Network
Source: Finance News Network
