Shares of Super Retail Group, the name behind the Rebel, Supercheap Auto and BCF retail chains, were punished on Thursday after the company conceded consumer spending is slowing as the cost of doing business is rising.
“The way we think about it, underlying demand for retail will be flat to negative. We are planning for the worst and hoping for the best,” chief executive Anthony Heraghty told the Macquarie Australia Conference.
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Carrie LaFrenz is a senior journalist covering retail/consumer goods. She previously covered healthcare/biotech. Carrie has won multiple awards for her journalism including financial journalist of the year from The National Press Club. Connect with Carrie on Twitter. Email Carrie at carrie.lafrenz@afr.com
