SUL - Super Retail Group
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TRADING UPDATE
i hold SUL ( 'free-carried' )
now to my twisted mind i class this as a 'safe-haven' as it targets the working/middle class customer ( especially as i have already de-risked it )
i am currently up 66% on this
but who knows maybe a top up opportunity awaits
“While store foot traffic and transaction volumes continue to grow, ongoing cost of living pressure is impacting number of items per sale.”
Group gross margin (%) in FY24 year to date is in line with gross margin (%) delivered in the pcp.
The Group has opened 20 stores and closed 4 stores in FY24 year to date.
The Group expects to open a further seven stores prior to the end of FY24.
2024 Enterprise Agreement Super Retail Group is pleased to advise that the Group’s 2024 retail and CCC Enterprise Agreement (EA) has been endorsed by our Australian team members and approved by the Fair Work Commission (FWC).
The EA has a three-year term and will become operative from 14 July 2024.
Under the terms of the EA, all wages-paid team members across the Group’s Australian retail stores will receive higher penalty rates and the following increases in base pay rates:
― FY25: 5.25 per cent1
― FY26: 3.25 per cent
― FY27: 3.25 per cent
The EA applies to the store wages component of the Group’s employee expenses (not support office employee expenses) and excludes retail management.
Prior to the EA, on 2 July 2023 the Group made a 3 per cent pay increase to retail team member base pay rates.
Eligible team members will also receive a one-off payment equivalent to 2.75 per cent of their annual base pay with payment to be made prior to the end of FY24.
The Group’s H1 FY24 financial results included a year-to-date provision for this one-off payment.
The FY25 increase to retail team members’ base pay rates represents a step up in retail team member expenses from FY24 to FY25 of approximately 3 per cent.
“We believe the Enterprise Agreement represents a fair and reasonable outcome for the Group and our team members” Mr Heraghty said.
The release of this announcement has been authorised by the Board of Super Retail Group.
i hold SUL ( 'free-carried' )
now to my twisted mind i class this as a 'safe-haven' as it targets the working/middle class customer ( especially as i have already de-risked it )
i am currently up 66% on this
but who knows maybe a top up opportunity awaits
“While store foot traffic and transaction volumes continue to grow, ongoing cost of living pressure is impacting number of items per sale.”
Group gross margin (%) in FY24 year to date is in line with gross margin (%) delivered in the pcp.
The Group has opened 20 stores and closed 4 stores in FY24 year to date.
The Group expects to open a further seven stores prior to the end of FY24.
2024 Enterprise Agreement Super Retail Group is pleased to advise that the Group’s 2024 retail and CCC Enterprise Agreement (EA) has been endorsed by our Australian team members and approved by the Fair Work Commission (FWC).
The EA has a three-year term and will become operative from 14 July 2024.
Under the terms of the EA, all wages-paid team members across the Group’s Australian retail stores will receive higher penalty rates and the following increases in base pay rates:
― FY25: 5.25 per cent1
― FY26: 3.25 per cent
― FY27: 3.25 per cent
The EA applies to the store wages component of the Group’s employee expenses (not support office employee expenses) and excludes retail management.
Prior to the EA, on 2 July 2023 the Group made a 3 per cent pay increase to retail team member base pay rates.
Eligible team members will also receive a one-off payment equivalent to 2.75 per cent of their annual base pay with payment to be made prior to the end of FY24.
The Group’s H1 FY24 financial results included a year-to-date provision for this one-off payment.
The FY25 increase to retail team members’ base pay rates represents a step up in retail team member expenses from FY24 to FY25 of approximately 3 per cent.
“We believe the Enterprise Agreement represents a fair and reasonable outcome for the Group and our team members” Mr Heraghty said.
The release of this announcement has been authorised by the Board of Super Retail Group.
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SUL in the news for all the wrong reasons.
From Evil Murdoch Press
Time will tell whether there is substance to the allegations , or it is, as suggested by SUL, a financial shakedown by disgruntled employees aided and abetted by those crusaders for justice, a law firm.
Mick
From Evil Murdoch Press
Time will tell whether there is substance to the allegations , or it is, as suggested by SUL, a financial shakedown by disgruntled employees aided and abetted by those crusaders for justice, a law firm.
Mick
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currently way above my top up price ( i hold )
a scandal yes, but i doubt i can take advantage of it
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Federal Court Proceedings
Super Retail Group Limited (ASX: SUL) refers to its release of 26 April 2024 regarding expected workplace litigation.
Super Retail Group confirms today that it has been notified of a Statement of Claim in relation to these matters filed by its former employee in the Federal Court of Australia by Harmers Workplace Lawyers.
The Statement of Claim is consistent with the allegations previously announced, save that the allegations have only been made by one employee and not two as previously expected.
The Group does not accept the claims that are set out in the Statement of Claim.
As previously announced, Super Retail Group will defend these court proceedings in relation to these matters.
As these matters are now the subject of litigation, the Group does not intend to make any further comment at this time. Super Retail Group will continue to update the market on this matter as appropriate.
The release of this announcement has been authorised by the Board of Super Retail Group Limited.
i hold SUL ( 'free-carried' )
Super Retail Group Limited (ASX: SUL) refers to its release of 26 April 2024 regarding expected workplace litigation.
Super Retail Group confirms today that it has been notified of a Statement of Claim in relation to these matters filed by its former employee in the Federal Court of Australia by Harmers Workplace Lawyers.
The Statement of Claim is consistent with the allegations previously announced, save that the allegations have only been made by one employee and not two as previously expected.
The Group does not accept the claims that are set out in the Statement of Claim.
As previously announced, Super Retail Group will defend these court proceedings in relation to these matters.
As these matters are now the subject of litigation, the Group does not intend to make any further comment at this time. Super Retail Group will continue to update the market on this matter as appropriate.
The release of this announcement has been authorised by the Board of Super Retail Group Limited.
i hold SUL ( 'free-carried' )
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'Market Matters' Friday afternoon report
Not Held
Not Held
- Super Retail (SUL) -4.35% ended a tough week down again. We’d turned neutral around $18 and should have cut the position at that time – frustrating! They reported a mild deceleration in sales since the trading update provided at their FY24 results, and the market has turned hard. Now back to a level we’d be a buyer rather than a seller.
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better them than me ( buying near current levels )
i bought in years back and at much lower levels
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