Australia's Super Retail Group slumps after H1 trading update

Fri, 17 Jan - 9:38am

SYDNEY, Jan 17 (Reuters) - Shares in Australia's Super Retail Group fell as much as 24 percent to touch 13-month lows on Friday after the company reported weaker-than-expected first-half results because of the mining slowdown and "internal challenges".

Super Retail Group said its sales for the half-year ending Dec. 28 were A$1.096 billion, an increase of 6 percent over the previous comparable period.

It owns brands including Ray's Outdoors, Amart Sports, Rebel and Supercheap Auto. Shares in the company were down 16 percent at A$10.56 by 2331 GMT.

(Reporting by Thuy Ong; Editing by Paul Tait)

((thuy.ong@thomsonreuters.com)(+61 2 9373 1236)(Reuters Messaging: thuy.ong.thomsonreuters.com@reuters.net))

Keywords: AUSTRALIA SUPERRETAILGROUP COMPANY/

URN: 
urn:newsml:reuters.com:20140116:nS9N0K8006:4
Topics: 
RET RES CYCS AU CMPNY RSPC ASIA AUTO RCAR SHOP LEN RTRS BACT RESF AUT RETA

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