2353 GMT - Super Retail's Rebel Sport stores could face material competition from the likely launch into Australia of Fraser Group's Sports Direct chain, Citi analyst Adrian Lemme warns. ASX-listed Accent Group is in discussions with Fraser over the regional rights to operate Sports Direct, which Lemme points out is a major customer of brands including Nike and Adidas. He tells clients in a note that he is waiting on further detail of a likely Sports Direct rollout in Australia, but says that Accent's talks with Fraser already support his existing downside catalyst on Super Retail. Citi has a buy rating and A$18.00 target price on Super Retail, which is up 0.8% at A$13.01. (stuart.condie@wsj.com)
(END) Dow Jones Newswires
March 31, 2025 19:53 ET (23:53 GMT)
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