Sports Direct JV Could Boost Accent's Ebitda -- Market Talk

Dow Jones

03-31

0456 GMT - Accent Group's annual earnings could get a double-digit boost if the Australian retail group ends up running Sports Direct's regional operations in conjunction with the business's owner, according to Citi analyst Sam Teeger. Analyzing a scenario in which Accent and U.K.-listed Frasers Group form a JV, Teeger tells clients in a note that he sees 11% upside to Accent's fiscal 2024 Ebitda. This is based on the chain hitting just one third of the size of Super Retail Group's Rebel Sport, and what Teeger says are relatively modest sales and margin assumptions. Citi has a buy rating and A$2.57 target price on Accent shares, which are down 1.9% at A$1.795. (stuart.condie@wsj.com)

(END) Dow Jones Newswires

March 31, 2025 00:56 ET (04:56 GMT)

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